not enough income?
Make your dreams of homeownership a reality with a HomeReadyTM Mortgage from Univest, an affordable, conventional loan solution for creditworthy individuals who may not have the necessary income to purchase a home.
Benefits of a Univest HomeReady Mortgage:
- Low down payment
- Financing up to 97%
- Maximum loan amounts up to $647,200
- Cancellable or affordable mortgage insurance
- Can rely on income from family members or roommates to help qualify and they are not required to be on the loan
- Not all borrowers need to reside in the home
What are the eligibility requirements?
- Minimum of 620 credit score
- Borrower(s) is required to take an online course to help them prepare for homeownership prior to closing
What types of properties qualify for a HomeReady Mortgage?
- Primary residences
- Single family homes
- 1-4 Family property
- 1 unit condominiums