A HomeReady® mortgage meets life on your terms.

Does your dream of homeownership feel just out of reach? With mortgage loans demanding rigorous financial profiles or large down payments, the barriers to homeownership seem higher and the path narrower.

Our HomeReady® mortgage1 is ready to change the story. Whether you’re a first-time or repeat homebuyer, HomeReady® makes homebuying simpler, more affordable, and more accessible—right where you are.

Why choose a HomeReady® mortgage?

Discover the benefits that make HomeReady® mortgage an accessible and affordable option, especially for first-time homebuyers.

Low down payment options

Low down payment options

Make a low down payment on your home purchase or home refinancing transaction.

Flexible funding sources

Flexible funding sources

Draw incomes sources from gifts, grants from lenders, and eligible rental or boarder income.

Cancellable mortgage insurance

Cancellable mortgage insurance

Get your monthly insurance payments cancelled by meeting certain terms and conditions.

Homeownership education

Homeownership education

Receive essential homeownership education and housing counseling to better navigate the loan process.

Fewer barriers, more possibilities.

Ask a Home Lending Officer if you’re eligible for grants or financial assistance to help lower the barrier to homeownership.

  • Homebuyer Dream Program® 2
  • Homebuyer Dream Plus Program® 2
  • HomeFirst Downpayment Assistance® 3
  • Loan Origination Fee Waiver - Special Purpose Credit Program4
get down payment assistance and fee waivers

Let's make a plan for your home.

Our home lending team is here to help you get started.

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get pre-qualified for a mortgage loan

Are you ready for HomeReady®?

Check out the basic requirements for borrowers to see if you’re eligible for a HomeReady® mortgage.

Homebuyer profile

Homebuyer profile

You are a first-time or repeat homebuyer (or financially supporting an eligible homebuyer in your family).

Income eligibility limit

Income eligibility limit

Your income is less than 80% of the area median income (AMI) of your property location.

Homeownership education requirement

Homeownership education requirement

First-time homebuyers must complete an education course from a qualified provider.5

How it works.

Are you a first-time homebuyer? Get a mortgage with a few simple steps.

Step 1

Get pre-qualified.
Prepare your financial documents and position your application for pre-qualification.

Step 2

Make an offer.
Evaluate your budget, research comparable prices, and identify repairs before making an offer.

Step 3

Set up a home inspection.
Determine the home’s physical condition before seeking a final appraisal.

Step 4

Finalize and close.
Complete the underwriting process, confirm loan approval, and sign all relevant documents.


Get pre-qualified
Steps to apply for a mortgage

Speak to one of our Home Lending Officers today.

Whether you're purchasing a home or refinancing your existing mortgage, you're in capable hands with our experienced Home Lending Officers who will help guide you through the process.1

Meet our mortgage team
Speak to one of our Home Lending Officers

1All loans are subject to credit review and approval. Rates, program terms and conditions vary by state and are subject to change without notice. The HomeReady® Program is a registered trademark of Fannie Mae. Fannie Mae is not affiliated with Popular Bank. Additional program details are available on the Fannie Mae website. Borrowers must meet HomeReady® eligibility and qualification requirements, and receive loan approval. Borrower income must be less than 80% of area meridian income (AMI) as defined by Fannie Mae. A 3% down payment and mortgage insurance are required. First-time homebuyers will need to complete a homebuyer education course.

2Borrowers must meet Federal Home Loan Bank Homebuyer Dream and/or Homebuyer Dream Plus eligibility and qualification requirements. Subject property must be in a Popular Bank defined assessment area. The household must meet the income guidelines set forth in the Homebuyer Dream guidelines with a total household income of 80% or below of the area median income for the county in which the home being purchased is located, adjusted for household size.

3The HomeFirst Down Payment Assistance Program details are available at NYC Department of Housing Preservation and Development website. Borrowers must meet HomeFirst eligibility and qualification requirements. Borrowers must be a first-time homebuyer and complete a homebuyer education course. Borrower income must be less than 80% of area median income (AMI) as determined by the U.S. Department of Housing and Urban Development (HUD). A 3% down payment is required. Neighborhood Housing Services of New York City, Inc. (NHSNYC) administers the New York City Department of Housing Preservation and Development’s HomeFirst Downpayment Assistance Program.

4The Loan Origination Fee Waiver is a waiver of the Bank’s otherwise standard origination fee and is only available on agency products and portfolio products to agency limits for residential mortgage loans (purchases and refinances) in which the property is an owner-occupied primary residence (1-4 family, a condominium, or a cooperative property type), located in Popular Bank’s assessment area, and located within a majority minority census tract (“MMCT”) or the combined borrower(s) income is < 80% of the established FFIEC Estimated MSA/MD/non—MSA/MD Median Family Income. Other restrictions and limitations may apply.

5A qualified provider must be independent of the lender, with homeownership education content that is aligned with National Industry Standards (NIS) or is offered by a housing counseling agency approved by the U.S. Department of Housing and Urban Development (HUD).

NMLS ID # 417584

Popular Bank, PO Box 4503, Oak Park, IL 60303-4503.
Customer Service Phone: 1-888-500-2612

For New York Borrowers: Popular Bank is regulated by the New York Department of Financial Services (NYDFS). To file a complaint contact New York State Department of Financial Services Consumer Assistance Unit at 1-800-342-3736 or by visiting the Department’s website at www.dfs.ny.gov. Popular Bank may utilize third party service providers to service your loan but remains responsible for all actions taken by the third party.

For more information regarding fees for mortgages and home equities serviced by Popular Bank, please see our Residential Mortgage and Home Equity Product Servicing Fees here. Does not apply to mortgages serviced by Popular Mortgage Services. For information regarding fees for Popular Mortgage Services accounts, please sign in to your account.

NYC Residents: Popular Bank provides language access services in Spanish. Please note that Popular Bank has customer service options to speak with an agent in Spanish. Popular Bank’s language access services are limited to verbal communications with an agent in Spanish. Popular Bank does NOT provide any other language access services in Spanish (or any other language) and, specifically, does not provide translations of any documents in Spanish (or any other language).

A translation and description of commonly-used debt collection terms is available in multiple languages on the NY Department of Consumer Affair’s website, www.nyc.gov/dca

Please never share your Popular account details with anyone. Popular will never ask you for your password through email, social media or a third-party website. Learn more.