Own a home for only 3% down and use contributions from family.

Schedule a free appointment with a home loan expert today.

With HomeReady*skip to disclosure, cash for down payment and closing costs can be funded from a gift from family—no minimum personal funds required.

  • Down payments as low as 3% with loans up to $647,200.
  • Only requires private mortgage insurance (PMI) until you have 20% invested in your home. FHA requires you to pay mortgage insurance every month for the entire life of your loan.1skip to disclosure
  • Unlike FHA, you won't pay upfront mortgage insurance premium (MIP) fees.
  • Available on fixed-rate mortgages up to 30 years.
  • We lend on primary residences.
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Why choose DuPage Credit Union for a HomeReady mortgage?

Get help with HomeReady® Mortgages.

HomeReady Mortgage does have income limitations in some areas to help ensure it is serving the borrowers and communities that need it most. We can help you understand how these apply to your situation.

To be eligible for a HomeReady Mortgage, you must plan to live in the home as your primary residence. We have other mortgage products for investment property or second home financing and can help you find the right one.

HomeReady Mortgage requires that at least one borrower complete the HomeView Homeownership Education Course prior to purchasing the home. The course is online and mobile friendly, so you can take it when, where and how you like (it typically takes about 4 hours to complete). You can even get one-on-one assistance from a professional homeownership advisor whose job is to help you become a successful homeowner.

No, HomeReady Mortgage aren’t just available for First-Time HomeBuyers. They are available to those buying their first home, and to home buyers who have owned homes in the past.

Yes, certain funds you’ve received as a gift from a relative can be used towards your down payment and closing costs.

HomeReady Mortgage allows for down payments as low as 3%, and, for most properties, all of the down payment funds can come from sources other than your own savings.

  • Homeowners insurance required. Single-Family homes only in Illinois. Does not include 2-4 flat or apartment complex financing. Consult a tax adviser regarding deductibility of interest. Must be a Member in good standing. Other restrictions may apply.

  • Must have a Credit Union membership established and be in good standing. Rate, points, and Annual Percentage Rate (‘APR’) may be adjusted based on several factors including, but not limited to, state of property location, loan amount, documentation type, loan type, occupancy type, property type, loan to value and your credit score. Your final rate and points may be higher or lower than those quoted based on information relating to these factors, which may be determined after you apply. Maximum loan to value varies based on multiple factors, including but not limit to loan type, property type and occupancy type.

  • HomeReady is a registered trademark of Fannie Mae. Income limits may apply.

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  • PMI will drop automatically at 78% LTV, but may be requested in writing once your loan hits 80% LTV from the original value.

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  • The rate lock period is 50 days.

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