Low Down Payment? No Problem with a HomeReady® loan through Black Ink Mortgage

Through a recently closed Refinance transaction, I was able to obtain better financing terms for a client borrowing over 80% of the appraised value than if she
were to borrower Less than 80%.  This defies logic however, it happened and it can be replicated again for either Purchase or Refinance transaction.


Borrower Benefits

  • Low down payment for purchase; low equity for refinance
  • Affordable and cancellable monthly mortgage insurance.  The client referenced above had a loan amount of $280,000 with a monthly
    mortgage insurance premium of just $25.00
  • Possible Free or No Appraisal needed on Purchase and Refinance Transactions
  • Close the loan in as little as 2 1/2 weeks

The Ideal HOME Ready borrower

  • Minimum FICO score of  ≥680.  The particular client referenced above has a score of over 760. The higher the score, the better the terms
  • Property and borrower must meet certain Income Requirements.  Click Here to check your property. You can also go to https://homeready-eligibility.fanniemae.com/homeready/
  • Max Financing/Down Payment:  97% / 3%

Cheaper Mortgage Insurance than government-insured (FHA) loans

Unlike government-insured (commonly known as FHA) loans, HomeReady loans may have the option to cancel their mortgage insurance once their
home equity reaches 20% thus resulting in an even lower monthly payment.


Whether you currently own a home or are looking to buy a home, we’re here to help with a new home loan.  Backed by over 25 years Lending Experience, we’ll make sure you not only are offered great rates but we’ll make sure your transaction goes smoothly  from start to finish.

On a Financial Statement, the use of  the term “in the black” refers to being financially solvent or profitable. Conversely, “in the red” means to be in debt.  Something ‘Inked In’ is something permanent as opposed to using a pencil with markings that can be erased.  

When you work with Black Ink Mortgage, you are working with a Mortgage Broker with an outstanding reputation for always looking out for the client’s best interest in helping you obtain the best quality loan available (IE, lowest rates at lowest cost).

‘At Black Ink, we do not offer loans that we do not believe in and would not accept ourselves’.

Get Pre-Approved for a home loan through Black Ink Mortgage today. It’s FREE, FAST and EASY, and there’s no obligation to use our loan services. We simply make this available as a convenience and fast source to obtain a quick Loan Approval for your Realtor.  If you are refinancing, we can LOCK the terms as soon as you are happy with the quote received. Applying through Black Ink Mortgage, qualifies you for our No Appraisal Fee Guarantee.  Call for details.

or call DIRECT 949-348-0669