MyCommunityMortgage® in Wisconsin, Illinois, Minnesota and Florida

My Community Mortgage

Planning to buy a home but not sure if you can get an affordable mortgage? We can help!

MyCommunityMortgage® (MCM®) is a Fannie Mae program that has very flexible credit guidelines for low to moderate income borrowers. It’s available to purchase or refinance a single-family home, PUD, condominium, or a 2–4 family home.

  • 3%* minimum contribution from borrower’s own funds (one-unit)
  • Up to 97% financing* – one loan (one-unit)
  • Eligible for Community Seconds or standard subordinate financing
  • Available for 2, 3 or 4-unit properties for borrowers who want to live in one unit and rent out the others
  • Competitive rates
  • Choose a fixed rate or an ARM if you don’t plan on being in the home for long
  • Considers some income from a co-borrower without a credit history
  • PMI required for loans over 80% LTV but at a reduced rate
  • Borrowers must be at or below median area income limits to qualify
  • Not just for the first time homebuyer
  • Available for purchases and rate and term refinances

Median area income limits applies and can be checked on HUD’s website: HUD Area Median Income Limits

Other programs that may be of interest:
Home Possible Mortgage
USDA Rural Housing
FHA Loans
VA Loans
100% Financing Programs

Important Disclosure

*3% down payment on $250,000, 4.000%/ 4.815% APR, 740 FICO, 30-year fixed rate mortgage. Mortgage insurance is required. Rates subject to change. Subject to credit approval. At least one borrower must be a first time home buyer. Borrowers who have not held interest in a property in the last three years are also considered first time home buyers.

MyCommunityMortgage® is a registered trademark of Fannie Mae.


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