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Because everyone deserves a place to call home.

Buying a home is the American dream — and now finding an affordable loan that fits within your budget may not be as hard as you think.

Here are a few features of these programs that make buying a home doable:
Down payments are as low as 3% of the purchase price, and the funds for the down payment in some cases can come from multiple sources, including gifts and community grants or assistance programs. Your credit score doesn't need to be perfect as long as it’s 620 or above. And we're waiving our fee of $1,195 toward processing the loan.*

With our Affordable Housing programs, at least one borrower must be a first-time homebuyer, and the subject property must be the primary residence. All borrowers' eligible income will be considered, and an income limit of 80% of the Area Median Income (AMI) for the Metropolitan Statistical Area where the property is located will apply. Only 30-year fixed-rate loan options are available.

*Fee Disclosure: As part of this program, Embrace will not charge what is commonly known as an underwriting fee. In states where an underwriting fee is already not charged, we will deduct $1,195 from other loan processing costs, or if none, provide a credit of this amount to your loan.

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HomeReady® & Home Possible®

  • Low-income borrowers
  • 3% down payment financing option
  • FICO® Score as low as 620
  • Many types of down payment sources are acceptable
Learn more about these programs

View program assumptions>>

Frequently asked questions

What is the difference between Embrace, my local bank, and a broker?

In short: no middle man. As a direct lender for Fannie Mae, Freddie Mac, and an approved issuer for Ginnie Mae, we underwrite our loans. We are not a broker or a lead reseller and we never take your call and then pass your application off to someone else. Your Embrace Home Loans Mortgage Specialist works directly with you through the entire loan process — from beginning to end. This kind of personalized service means we can truly get to know you, and provide impeccable service that perfectly fits your needs. It also means we can offer better interest rates and terms — all while keeping you completely informed with real-time, up-to-the-minute information regarding your loan. There’s simply no better way to go through the mortgage process.
For more than 36 years we’ve been helping tens of thousands of people just like you purchase new homes, refinance existing mortgages, and consolidate high-interest debt. CONTACT US now to find out how we can help you make your dreams a reality.
Everyone's financial situation is different, so it’s important to figure out what you can comfortably afford to borrow, which depends on four factors:
  • Your debt-to-income ratio (your total monthly payments as a percentage of your gross monthly income)
  • Cash you have available for a down payment and closing costs
  • Your credit history
  • The value of the home you’re buying
How much home can YOU afford? Use our handy mortgage calculator and find out!
Yes you can!  Please use the following link to make payments. If you do not have an account you must create one the first time.
You can view the status of your loan at any time by logging into our Client Portal. We recommend saving this link in your web browser for future use, but you can always find the link here or in past emails from your Embrace loan officer.
"This is the second transaction for me. Fast, easy, hit the mark. I wouldn't consider using anyone else!" - Susan, MI
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HomeReady®/Home Possible® Assumption: A $200,000 fixed-rate loan (after 3% down payment) with a 30-year term, 3% interest rate, and $1155 in prepaid finance charges would have an APR of 3.256% and monthly payment of $909.88. Monthly payment includes principal, interest, and mortgage insurance, but does not include taxes, other types of insurance premiums, and certain other fees, which will result in a higher monthly payment. Monthly mortgage insurance will be charged until the loan-to-value ratio (LTV) is below 80%. Terms are subject to change without notice or may not be available at the time of application. Loan amount restrictions may apply in certain areas.

FHA Assumption: A $203,500 fixed-rate loan with a 30-year terms, 3.5% down payment (including FHA Upfront Mortgage Insurance of 1.75%), 3% interest rate, and $1155 in prepaid finance charges would have an APR of 4.031% and monthly payment of $998.29. Monthly payment includes principal, interest, and mortgage insurance, but does not include taxes, other types of insurance premiums, and certain other fees, which will result in a higher monthly payment. FHA monthly insurance premium equal to 0.85% of the average outstanding principal balance will be calculated and assessed for the life of the loan. Terms are subject to change without notice or may not be available at the time of application. Loan amount restrictions may apply in certain areas.

VA Assumption: A $207,200 (including maximum VA Funding Fee at 3.6%) fixed-rate loan with a 30-year term, no-down payment, 3% interest, and $1155 in prepaid finance charges would have a 3.325% APR and monthly payment of $873.57. Monthly payment includes principal and interest, but does not include taxes, insurance premiums, and certain other fees, which will result in a higher monthly payment. Terms are subject to change without notice or may not be available at the time of application. Loan amount restrictions may apply in certain areas.

USDA Assumption: A $202,020 (including the USDA’s 1% Guarantee Fee) fixed-rate loan with a 30-year term, no down payment, 3% interest rate, and $1180 in prepaid finance charges would have a 3.478% APR and monthly payment of $910.09. Monthly payment includes principal, interest, and mortgage insurance, but does not include taxes, other types of insurance premiums, and certain other fees, which will result in a higher monthly payment. Annual USDA Guarantee Fee equal to 0.35% of the average outstanding principal balance will be calculated and assessed for the life of the loan. Terms are subject to change without notice or may not be available at the time of application. Loan amount restrictions may apply in certain areas.