I just met with a savvy investor today looking at finally getting off the fence and buying a couple investment properties. He came to me with the expectations of putting 25% down and needing 6 months reserves for his other 4 properties he currently has in his portfolio...
I asked if he knew about Fannie Mae's Homepath Program-
He was not aware of this so I explained the benefits- no appraisal, 90% financing and NO MORTGAGE INSURANCE NEEDED.... He instantly assumed this must be good to be true and wondered exactly what kind of a dump he needed to buy- he was looking for newer so we looked at this one for $179,000.
Only $17,900 down leaving money for qualifying reserves.... He is blown away and can't wait to contiune looking on line for these great deals.
I specialize in Homepath financing and it does have some quarks but by far THE best deal on the market when it comes to lending. If you or someone you know are interested in Homepath financing please give me a call today.
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