HomeReady® finances 1–4 unit primary residences — including single-family homes, approved condos, PUDs, and qualifying manufactured homes. Second homes and pure investment properties are not eligible.
HomeReady is a primary-residence program. The property must be where you will live, and it must fit Fannie Mae’s eligible property categories for conventional financing.
Most Indiana buyers use HomeReady on single-family homes. Condos, townhomes in PUDs, multi-unit properties you will occupy, and certain manufactured homes can also work when project and property standards are met.
Ryan and Steve screen property eligibility before you write an offer — especially on condos and manufactured homes where late surprises kill timelines.
Confirm project and property standards early — especially outside single-family.
The most common HomeReady purchase. Stick-built homes on owned land with standard appraisal and title requirements.
Allowed when the project meets Fannie Mae condo/PUD eligibility. HOA questionnaires and project review often drive the timeline.
Eligible when you occupy one unit as your primary residence. Rental income from other units can help qualify — see the multi-unit guide.
Eligible only when foundation, title, and Fannie Mae manufactured-home requirements are met. Not every park or title structure qualifies.
Wrong occupancy or property type means a different program — not a workaround.
| Scenario | Better path |
|---|---|
| Second home / vacation property | Standard conventional second-home financing. |
| Non-owner-occupied rental | Investment conventional, DSCR, or other investor programs. |
| Ineligible condo project | Switch buildings — or evaluate FHA/condo overlays case by case. |
| Non-qualifying manufactured setup | Confirm foundation/title first; may need a different product. |
Related guides on HomeReady eligibility and property-specific financing.
Buy a duplex, triplex, or fourplex and live in one unit.
Occupancy, AMI, credit, and income rules.
Program overview — affordable conventional financing.
Why condo projects get extra review.
What makes a manufactured home conventionally financeable.
Eligibility calculator and VLIP grant screening.
As little as 3% down on eligible property types.
HomeReady generally finances 1–4 unit primary residences, including single-family homes, approved condominiums, PUDs, and manufactured homes that meet Fannie Mae requirements.
No. HomeReady is designed for primary residences. Second homes and pure investment purchases need a different conventional or investor program.
Yes, when the condo project meets Fannie Mae eligibility. Project review is often the gating item — we check that early so you do not waste due diligence on an ineligible building.
Yes if they meet Fannie Mae manufactured-home standards (foundation, title, and property requirements). Not every manufactured home is financeable under HomeReady.
Ryan & Steve will confirm whether your target property fits HomeReady® before you go under contract.
HomeReady is a registered trademark of Fannie Mae. All loans are subject to credit and property approval. Program guidelines, income limits, and pricing are subject to change without notice and may not be available in all areas. This website is not affiliated with or endorsed by Fannie Mae, HUD, or any government agency. Information is for educational purposes only and is not a commitment to lend.