Homepath mortgages are from the federal government, they are a Fannie Mae loan product.
You are probably asking yourself, so whats so good about homepath mortgages, well here it is!
HomePath Mortgages allow owner occupied properties to come in with as little as 3% down, no mortgage insurance, no appraisals, and they normally can close out in as little as 14 days. Pretty cool!
Next, is the part about Homepath Mortgages that will rock your world!
Homepath Mortgages allows INVESTOR loans as well with some really killer terms. They allow investors to come in with as little as 10% down, no appraisals, and no mortgage insurance as well.
I have investor clients that will only buy these Homepath mortgage approved properties (They must be Homepath approved) because they can buy twice as many homes since they are only required to put down 10% instead of the normal investor loans of 20% down.
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