The HomePath purchase is something that buyers may want to consider. HomePath properties are properties that are owned by Fannie Mae and there are special financing considerations. Check this address to find out more information about the HomePath purchase: http://www.homepath.com

These loans are for purchase only and an appraisal is not required. Also, mortgage insurance is not required. The credit score guideline is a mid score of 660 and the debt ratio guidelines are very reasonable.

The down payment required is only 3% and the client must have 6 months of reserves for the entire mortgage payment which includes taxes and insurance.

The 97% loan with no mortgage insurance and the liberal underwriting guidelines makes this an investment to consider.

 

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