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How HomeReady and Home Possible Mortgages Open Doors During National Homeownership Month

June 26, 2025 by Kay Monigold

June is National Homeownership Month, a time to spotlight the programs that make owning a home more accessible to more people. While many potential buyers believe they need perfect credit or a large down payment, programs like HomeReady® and Home Possible® prove otherwise. As a mortgage originator, I see firsthand how these affordable loan options can turn homeownership from a dream into a reality.

Understanding HomeReady and Home Possible
HomeReady® is offered by Fannie Mae and is designed for low-to-moderate-income borrowers. Home Possible®, offered through Freddie Mac, serves a similar purpose. These programs are especially powerful for first-time buyers, younger households, and families who may be living in high-cost or underserved communities.

The goal of both programs is simple: to help more people qualify for financing by providing flexible credit guidelines, low down payment options, and reduced mortgage insurance requirements.

Why They Matter This Month
National Homeownership Month is about increasing access to homeownership and helping people understand what’s available to them. That is exactly where HomeReady and Home Possible shine. These programs provide solutions for buyers who are ready to take the next step but may not meet the strict requirements of a conventional mortgage.

By highlighting these programs during National Homeownership Month, we can help more families understand that a lower income or smaller savings account does not have to be a barrier.

What Sets These Programs Apart
Both HomeReady and Home Possible offer:

  • Down payments as low as 3 percent
  • The ability to use co-borrower income (even if they do not live in the home)
  • Credit flexibility including consideration for non-traditional credit
  • Reduced private mortgage insurance (PMI)
  • Homebuyer education courses to prepare borrowers for success

These features make a big difference for buyers who are financially responsible but may not fit into a one-size-fits-all mortgage box.

Real-Life Impact
I have worked with buyers who thought they needed years to save for a down payment or that their moderate income would prevent them from qualifying. With HomeReady or Home Possible, those same clients were able to purchase homes much sooner than they expected. That impact is life-changing, especially for families trying to build roots and financial stability.

The Power of Smart Guidance
The key is knowing which program is the best fit and how to use it strategically. That is where a knowledgeable mortgage originator comes in. During National Homeownership Month, I encourage buyers to reach out, ask questions, and find out what might be possible for them today, not someday.

Homeownership builds equity, provides stability, and creates opportunity. Thanks to HomeReady and Home Possible, more people can experience those benefits and take that first step toward long-term financial growth.

Filed Under: Mortgage Tagged With: Home Possible Loan, Home Ready Loan, National Homeownership Month

How Homeownership Builds Generational Wealth – A Message for National Homeownership Month

June 25, 2025 by Kay Monigold

June is National Homeownership Month, a time to celebrate the lasting impact that owning a home can have on individuals and families. One of the most powerful benefits of homeownership is the ability to build equity. As you make mortgage payments, you are gradually increasing your ownership stake in the property. This equity becomes a form of forced savings and can be used in the future for things like education, home improvements, or retirement. Unlike rent, which builds no future value, mortgage payments create wealth over time.

Appreciation Adds Long-Term Value
In addition to building equity, homes tend to increase in value over time. While housing markets may experience short-term fluctuations, real estate has historically appreciated over the long run. That increase in value can significantly boost your net worth. When it is time to sell or refinance, the appreciation can turn into real dollars that provide financial flexibility and long-term opportunity.

Leverage and Financial Growth
When you buy a home, you are leveraging a relatively small amount of money to purchase a much larger asset. For example, with a small down payment, you are able to control the full value of the property. As that property appreciates, your return is based on the full value of the home, not just your initial investment. This kind of financial leverage is a major reason why homeownership is such an effective wealth-building tool compared to renting.

A Legacy for the Next Generation
Homeownership is also a way to create financial security for future generations. Passing down a home to children or grandchildren can provide them with a strong start in life. Even if you choose to sell the home later, the equity gained can help fund education, support a family business, or assist with a loved one’s home purchase. That ability to pass on value is what turns homeownership into a legacy.

More Than Just Money
Beyond the financial benefits, owning a home brings stability and a deep sense of pride. It creates consistency in family life, helps children remain in the same schools, and fosters a sense of belonging in the community. These emotional benefits reinforce the lasting value of homeownership and make it more than just a financial milestone.

Celebrate with Purpose
National Homeownership Month is the perfect time to reflect on the bigger picture. Homeownership is not just about the keys in your hand today. It is about what those keys unlock for your family’s future. If you are considering buying a home, now is the time to learn more about your options and start planning for a future that benefits you and those who come after you.

Filed Under: Mortgage Tips Tagged With: Family Legacy, Generational Wealth, National Homeownership Month

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Our Team

Kay MonigoldKay Monigold
Owner/Mortgage Broker/Residential Mortgage Loan Originator
NMLS#1086176

Steven LoweSteven P Lowe, Sr
Residential Mortgage Loan Originator
NMLS #1085638

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