Image of a hand facing palm up holding a tree seedling beside the Home Ready Mortgage logo.

Home Ready Mortgage

Flexible options. Conventional ease. HomeReady® is an affordable, low down payment mortgage product designed for low to moderate income borrowers. 
  • Low down payment; as little as 3% down for home purchases.
  • Flexible sources of funds with no minimum contribution from borrower’s own funds.
  • Non-occupant borrowers permitted.
  • Cancellable mortgage insurance (restrictions apply).
  • Borrower is not required to be a first-time home buyer.
  • Reduced mortgage insurance coverage requirement for loan-to-value ratios above 90% (up to 97%).
  • Gifts, grants from lenders and cash-on-hand permitted as a source of funds for down payment and closing costs.
  • Manufactured homes, condos and townhouses are eligible for financing.
Mortgage Program Comparison between Home Ready, FHA and conventional mortgage products.

Accessibility Statement for Image

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The Web Content Accessibility Guidelines (WCAG) defines requirements for designers and developers to improve accessibility for people with disabilities. It defines three levels of conformance: Level A, Level AA, and level AAA. Union State Bank is partially conformant with WCAG2.0 level AA. Partially conformant means that some parts of the content do not fully conform to the accessibility standard. Such as the image on this page, which may not be accessible through online readers.

For accessibility assistance with this document or to provide feedback on the accessibility of the Union State Bank website contact us:
·         Phone: 866-557-0060
·         E-mail:
·         Postal address: PO Box 928, Arkansas City KS 67005
You do not have to be a first-time home buyer to qualify for a HomeReady® loan, but if you are you may also qualify for a Homeownership Set-aside Program (HSP) grant up to $7,500.00!
HSP grant funds may be used for down payment, closing cost and repair assistance to first-time homebuyers earning at or below 80% of the area median income for households purchasing or constructing homes in Colorado, Kansas, Nebraska and Oklahoma.