🏡 $2,500 Grant Opportunity to Help First-Time Homebuyers!

This temporary credit offering has been extended through February 28, 2026  - and it’s a great tool to help more borrowers get into a home with added financial support.

Here's a quick breakdown of HomeReady Grant Eligibility:
✅ Owner-Occupied Purchase Only
✅ At least one borrower must be a First-Time Homebuyer
✅ Must receive an Approve/Eligible finding for HomeReady through Desktop Underwriter (DU)
✅ Qualifying income must be at or below 50% of the Area Median Income (AMI) for the subject property

• Income above 50.001% AMI must use standard HomeReady
• Income at or below 50% AMI qualifies for the $2,500 Grant under the Grant-HomeReady product code

📌 Important: If your borrower qualifies for the Grant, make sure to lock the loan under the Grant-HomeReady product  - other products will be ineligible for the $2,500 credit.

This is a great opportunity to open more doors for your clients and expand your purchase business. Let's work together to help more families achieve homeownership!

If you have any scenarios or need help checking eligibility, don't hesitate to reach out.

🔎 FAQs:

Q: How do borrowers qualify?
A: Borrowers must meet HomeReady or Home Possible guidelines and have qualifying income at or below 50% AMI.

Q: Is this for purchase or refinance?
A: Purchase transactions only. No refinances allowed.

Q: Is the Grant permanent?
A: No. It’s a temporary offering through February 28, 2026.

Q: How is the Grant disclosed?
A: The $2,500 will appear on the Closing Disclosure (CD) as "Grant Funds." It is not required on the LE.