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HomeReady and Home Possible Mortgage - 3% down conventional loan

Lack of downpayment money is typically the biggest issue facing first time home buyers. We help eliminate this problem with the Fannie Mae HomeReady Mortgage loan, or the Freddie Mac Home Possible loan, both of which only requires a small 3% down payment on a standard conventional home mortgage loan.

Why Choose a HomeReady or Home Possible Loan?

Just 3% down Payment
Can be combined with a down payment assistance program
Flexible down payment source options (your own money, gift from family, your 401k, and more)
Ability to consider non-application income sources to help you qualify
Less restrictive property conditions guidelines - When a home won't qualify for an FHA loan

HomeReady Mortgage Lender in MN, Wi, SD

You can potentially use other types of household income to help income qualify for the loan from a non-applicant.

For example:

Maybe your elderly parents will be living in the home. We might be able to use their social security income to help you qualify.
Maybe your spouse has bad credit, but has a job. We might be able to use their income too without them actually being on the loan application itself.
Thinking of renting out a room? Rental income from a single family home may be considered for qualifying

Using non-borrower household member family income greatly extends mortgage and homeownership access to multi-generational families!

Do I Qualify For a HomeReady Mortgage Loan?

All mortgage loans have a long list of qualifying guidelines. Therefore we suggest you don't try figuring it out on your own. Rather, simply complete a full mortgage application, and let one of our expert licensed Loan Officers assist you.

Click here to complete a full online HomeReady or Home Possible Mortgage Application, or callus at (651) 552-3681 to complete an application over the phone, or to schedule an appointment in our St Paul, MN office.

By applying, you are not committing yourself to anything.

Rather, you are simply giving the mortgage company all the information we need to help determine what loan programs you qualify for, how much house we will let you buy, what monthly payments might look like, and how much money you may need to pull it all together.er.

If it all looks good, you'll be given a Mortgage Pre-Approval Letter, and put in contact with a local real Estate Agent to help you find your new home.

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(651) 552-3681

Cambria Mortgage - St Paul Office
33 Wentworth Ave E, Suite 290
St Paul, MN 55118
Office (651) 552-3681
Fax (651) 994-6425
E-Mail: joe.metzler@cambriamortgage.com

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FHA, VA, and USDA Approved Lender
We are an Approved Lending Institution for FHA, VA, and USDA Government Loans. While we are an approved lender, we are not part of HUD, FHA, the Veterans Administration or the United States Department of Agriculture. We are not acting on behalf of, or under the direction of HUD/FHA, VA, USDA, or the Federal Government in any way. FHA and VA do not lend directly to the public, only through approved lending institutions like Cambria Mortgage.

License Information
Cambria Mortgage. Nationwide Mortgage Licensing System and Registry (NMLS) # 322798 Saint Paul Branch - NMLS # 387944. Joe Metzler, Licensed Mortgage Loan Originator NMLS # 274132. Lending in MN, WI, IA, ND, SD,CO, FL only.

Approved FHA Lender in Minneapolis, ST paul, MN