myCUmortgage is proud to offer a monster-sized opportunity from Fannie Mae® HomeReady® to support homeownership for creditworthy low-income members, both first-time and repeat buyers.
This HomeReady® product enhancement features a $2,500 loan-level price adjustment credit for your very low-income borrowers on certain eligible HomeReady® loans.
The credit can be used for down payment, closing costs and Mortgage Insurance premiums—for home purchases only—when borrower income is 50% or less of Area Median Income (AMI) of the property location.
With a low down payment and expanded financing flexibility, HomeReady® offers an ideal solution that works for today’s creditworthy low-income borrowers. This new benefit can help overcome two of the greatest barriers to homeownership—down payment and closing costs.
SOUND INTERESTING?
If you’re a current partner credit union of myCUmortgage, check out more details in Announcement 2024-03 in your SmartRoom or talk with your Partner Success Manager.
What are you looking for? We’re here to listen – and provide options to make you a monster mortgage mover!
- Digital marketing tools, automated loan notifications and CRM (Customer Relationship Management) to increase application pull-through rates and grow your mortgage business
- FHA, VA and USDA products without adding staffing or overhead
- Flexible partnership options for mortgage lending and income levels: grow or outsource as needed
- Multiple loan delivery channels — secondary market, FHA, VA, USDA and/or portfolio
- Solutions for staffing challenges — utilize our mortgage experts trained with the credit union philosophy
- Ability to hedge investor loan delivery minimums — rely on our flexible “no file minimum” secondary market funding solutions in fluctuating markets
- Mortgage servicing transparency with member retention tools for service-released and service-retained loans—ask how we keep you connected with your members!
Take a look at what myCUmortgage can do for you! You know what you need. We know myCUmortgage can help.
Let’s talk!
Dawn Rudie
Credit Union Development Manager
937.956.1125
Ready now? Book a meeting with me!
If you’re a credit union interested in this offer for your members or other benefits of partnering with myCUmortgage, a mortgage CUSO, please fill out the form on this page and we’ll be in touch!
*Certain restrictions, timeframes and eligibility criteria must be met to qualify per Fannie Mae® Lender Letter (LL-2024-01) and myCUmortgage underwriting. Credit unions can contact myCUmortgage to learn more. HomeReady® is a registered trademark of Fannie Mae®.