A HomeReady Mortgage is a Fannie Mae, first-time home buyer loan program, with minimum down payment requirements, and some very particular underwriting characteristics.


When a borrower is purchasing a single-unit primary residence with a 3% minimum down payment and there is an ADU present, 75% of the potential rents from the ADU can be used to qualify. This is unique, as it could not be utilized previously or on other conforming loan programs.  ADUs must be common for the subject property area and the appraiser must be able to find comparable properties with a 1007 Rent Schedule for the attached or detached ADU to substantiate the income.

See more:https://accessorydwellings.org/2018/07/06/adu-rental-income-can-be-used-to-qualify-borrowers-to-purchase-on-homeready-loans/