HOMEPATH PROGRAM HIGHLIGHTS 615-625-5274 Investors Dreams!!!
(Only FNMA REO's are eligible for Homepath)
-Purchase Transactions Only -Single Family Attached, Detached, Condo's, and PUDS
-Owner occupied, Second Homes, and Investment Allowed
-Up to 97% financing available on primary residences
-Up to 90% available for second homes and investment properties
-Minimum Credit Scores:
- 620 for up to 80% LTV
- 660 for greater than 80%
-NO APPRAISAL REQUIRED, ltv based on sales price
-NO MI REQUIRED regardless of LTV (price adjustments will apply if LTV is greater than 80%)
-DU Approve/Eligible is required
-Down Payment Sources included: borrowers funds, a gift, or a grant from a non-profit agency
-No extended locks are available
- 6% seller contributions allowed for primary residences and second homes, 2% for investment properties *Note: Anticipate longer processing times as the file must be sent to the investor for prior approval.
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