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HomeReady® Mortgage Loans

Helps credit-worthy low-income borrowers become homeowners.

A program through Fannie Mae that helps our lenders work with credit-worthy low-income borrowers. A HomeReady loan can provide affordable homeownership opportunities to those who may not qualify for conventional mortgage loans. Work with your local mortgage loan officer to see if you qualify.

Apply  Rates  Fannie Mae Website

couple excited about their new home

Low Down Payment

A borrower's down payment can be as low as 3% for a home purchase or refinance transactions. This is especially beneficial for first-time home buyers.

Flexible Funding

Cash for down payment or closing costs can come from multiple sources, including gifts, grants, or other. There is no minimum amount required for personal funds.

Competitive Pricing

Interest rates are typically equal to or better than Fannie Mae's standard loan pricing. Ask your mortgage lender about current rates.

Mortgage Loan Calculator

Estimate monthly payments and total interest paid on any fixed-rate mortgage loan.

Loan Amount
Annual Interest Rate
Loan Term
Annual Property Taxes
Annual Homeowners Insurance
Monthly Private Mortgage Insurance
Monthly Principal and Interest Payment
Monthly Tax, Insurance and PMI payment
Total Monthly Payment

*Calculator provides general estimations only. Inconsistencies may occur with the use of the calculator and the outcomes are not credit guarantees. For specific payment and interest information, please contact us.

Calculating mortgage payment


Apply for a mortgage loan today!

We’re ready to help finance your perfect home with your perfect mortgage.

Apply Now

Mortgage Programs

Check out some of the mortgage loan options available with Magnifi Financial:

CONVENTIONAL
MORTGAGE

Traditional mortgage loans with fixed rates throughout the term of the loan.

ADJUSTABLE-RATE
MORTGAGE (ARM)

Mortgage Loans with variable interest rates which may fluctuate payments.

FIRST-TIME
HOMEBUYERS

Learn more about purchasing your first home and your options available.

BUYING A HOME HUB

Go to the mortgage homepage to learn more about the process.

VETERANS AFFAIRS (VA)

A VA loan helps provide home financing for eligible Service members, Veterans, and surviving spouses.

FHA
LOANS

Funds are available from the Federal Housing Administration to low-moderate income families.

RURAL
DEVELOPMENT

A program for low and moderate income families living in rural areas.

LAND LOANS

Loans are available for the purchase of property such as for hunting or investment.

Please note, while you are undergoing the mortgage loan process, it is best that you check with your mortgage lender before opening any other loans at the same time.

IMPORTANT INFORMATION ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you.
We may also ask to see your driver’s license or other identifying documents.

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Join the Magnifi Family!

At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.

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