Home Loans California & Arizona

Home Ready Purchase in Ontario, California

HomeReady mortgage loan program is designed for creditworthy low- to moderate-income borrowers in Ontario, California, HomeReady offers expanded eligibility for financing homes in low-income communities. HomeReady loans Put low- to mod-income borrowers with good credit in homes for as little as 3% down.


Ideal HomeReady Borrower in Ontario, CA

  • Have low-to-moderate income
  • Are first-time or repeat homebuyers
  • Have limited cash for down payment
  • Credit score is =680
  • Have supplemental boarder or rental income
  • Looking for low-cost refinancing options

HomeReady Features:

Unlike government-insured loans, with HomeReady®, borrowers may have the option to cancel their mortgage insurance once their home equity reaches 20%. This can result in lower monthly payments down the road.



With HomeReady, cash for down-payment and closing costs can come from multiple sources, including gifts, grants, and Community Seconds® — with no minimum personal funds required.

Financing up to 97% loan-to-value (LTV) for purchase of one-unit principal residence (DU is required for LTV ratios >95%); up to 95% LTV for limited cash-out refi (LCOR) and up to 97% LTV for LCOR transactions in DU when the mortgage being refinanced is owned or guaranteed by Fannie Mae.

Borrower is not required to be a first-time buyer

Supports HomeStyle® Energy, manufactured housing, and HomeStyle Renovation (approved lenders)

Innovative underwriting flexibilities expand access to credit responsibly. Flexibilities include:

  • Rental unit and boarder income
  • Non-occupant borrowers, such as a parent
  • Homeownership education requirement

Knowledge is power. That’s why the HomeReady® mortgage homeownership education requirement is designed to help borrowers gain essential knowledge to prepare for sustainable homeownership and lenders gain informed borrowers prepared to successfully navigate the loan process. 

Call Nathan Rufty Today to get a free qualification on your HomeReady Mortgage in Ontario, California. Call now 909-503-5600.
Posted by Nathan Rufty on December 11th, 2018 9:13 PM

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