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down payment requirements: HomePath: A great program for 1st time buyers - 07/27/10 11:08 AM
Recently, I've had a few clients inquire about the HomePath financing available for the purchase of Fannie Mae-owned properties.  This program is often misunderstood and I thought I would take a moment to share a few highlights in light of the strong level of inventory currently available.
Currently here in the Cincinnati area, there are 210 properties listed in Hamilton County alone in a wide varierty of price ranges.  I am more of an FHA guru myself but looking more closely at this program I can see where there is a whole lot of opportunity to make use of HomePath.
1)  The 3% down … (2 comments)

down payment requirements: 2009 FHA Blog Part 2: Cover Your Assets! FHA Documentation Requirements for Down Payment - 05/13/09 06:42 PM
Tight markets = Tight underwriting, simple as that.  Let's touch on one thing that comes up time and time again on FHA purchases: Funds to close.
In working with almost solely FHA loans on a daily basis, it has become clear to me that my next installment here must cover the documentation of assets.  A failed attempt at asset documentation can send that red flag up the pole real quick if not careful.  When I step into a "conventional fallout" situation this is one of the biggest obstacles I have to overcome in many cases. With these declining market restrictions, documenting … (4 comments)

 
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Kevin Weaver

Cincinnati, OH

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Emery Federal Credit Union

Address: 7890 East Kemper Road, Cincinnati, OH, 45249

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