HomePath Mortgage 2016

HomePath Mortgage 2016

HomePath® mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance.

Benefits to the Buyer:

• No lender-requested appraisal
• Low down payment — 5% on primary home can be funded by your own savings; a gift; a grant; a loan from a nonprofit organization, state or local government, or employer.
• Flexible mortgage terms
• Borrowers may qualify wth less than perfect credit
• No mortgage insurance
• Expanded seller contributions for closing costs.
• Available for primary residences, second homes and investment properties
• Many condo project requirements are waived

The Fannie Mae HomePath® program is a fixed-rate, fully amortizing loan program that provides the financing for properties that are owned by Fannie Mae as a result of foreclosure or other similar action such as a deed-in-lieu.          

• Low down payment minimum of 3% down payment is required which can be funded by the borrower’s own savings, a gift, a grant or a secured loan from a nonprofit organization, state or local government or employer
  
• No appraisal required
  
• No mortgage insurance required
• Expanded seller contributions for closing costs allowed 
  

LOAN-TO-VALUE

Primary Residence Purchase

• 1 Unit 95% LTV with 660 minimum credit score and 80% with 620 minimum credit score
• 2 Units 85% 660 with  minimum credit score and 80% with 620 minimum credit score
• 3-4 Units 75% LTV with 620 minimum credit score

Second Home Purchase

• 1 Unit 90% LTV with 700 minimum credit score 80% LTV with 620 minimum credit score

Investment Property Purchase

• 1 Unit 85% LTV with 700 minimum credit score 
• 80% LTV with 620 minimum credit score
• 2-4 Units 75% LTV 620 minimum credit score

Today’s historically low interest rates make now the perfect time to purchase a new home or refinance.

One of the most popular types of mortgages is the 30-year fixed-rate mortgage. This loan is usually the easiest to qualify for and provides the maximum interest deduction at tax time. The interest rate stays the same over the life of the loan which provides unchanging low monthly payments.

Apply Now!

Call us 888.958.5382

FHA purchase FHA refinance FHA 203k loan FHA cash out $100 down loan

FHA loan requirements - ‎FHA loan limits - ‎FHA loans - ‎FHA Streamline

We look forward to working with you.

We recognize the importance to you of keeping your information secure and confidential. We will not sell or share your personal information.

HomePath mortgage 2016 Florida, HomePath mortgage 2016 Florida