Fannie Mae HomeReady guide

[John Peters]

Hi,

I’m a first time homebuyer. I have few thousands for downpayment. I have low income, debt free and 729 FICO. I’m interested in Homeaready (or any other program with low downpayment) program due to its low downpayment.

My questions are:

1. I heard that we can buy hud foreclosed homes with this HomeReady loan. But how? Can you tell me in detail/ step by step? I called HomeReady but that didn’t help me. They told me to find a lender. But i’m a DIY person, so i wanna know everything upfront.

2. How can i find the cheapest HomeReady lender to buy a hud foreclosed home?

The location i’m interested in is Oklahoma City or nearby (if that helps)