Home : Blogs : Michael Delp : Michael Delp- Pennsylvania Mortgage Broker

Great new loan program

There is a great new loan program available for purchasing REO properties owned by Fannie Mae. A borrower needs a 660 credit score to qualify. It will allow your buyers to borrow up to 95% with no mortgage insurance. That's right, NO MORTGAGE INSURANCE! There is no need for an appraisal!

This is a fantastic program that can save home buyers thousands of dollars! There are very few Lenders who can offer this new program, but I am glad to say that we are one of the few! I was so excited about this program that I had to share it on here. Contact me for more details!

Posted by Michael Delp on 07/21/2009 12:44 PM

Comments (7)

reo properties, mortgages

This post has been included in Pennsylvania Information
Post is included in group: Pennsylvania Professionals
Post is included in group: New Jersey & Pennsylvania -- Realtors/Loan Officers/Title Clerks/Real Estate Lawyers

7 Comments on Great new loan program

JUL

Is it available in Florida? Congrads on being able to offer it! Anything to reduce inventory will help the real estate market, right?

Monika,

Yes it is available nationwide. Unfortunately, I am only licensed in Pennsylvania. Check with your local mortgage professional for availability.

Mike,

What's the name of this program?

I'm a broker in Arizona and have not heard of this.

thanks!

Thanks Michael, I am going to look into that! DAC

It's called Homepath. You can look up the details at homepath.com.

JUL

Michael, I've seen properties advertised that they've been approved for this program, but never got to represent a Buyer in the deal.

Is there a listing of all the Fannie Mae REO properties that have been approved for this financing option? On the Fannie Mae site maybe?

Heather,

The website homepath.com gives a search engine for available properties by State and County. See if that is any help for you.

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?