homepath: Investor Financing with 10% down payment - 09/08/13 11:12 AM

Yes, you read that correctly.  There is a program that allows for investors to buy a property with a 10% down payment.  This is available wiht the Homepath properties listed on the Fannie Mae (FNMA) website, www.homepath.com.  
While buyers purchasing for their primary residence only need a 3 % down payment, investors can enjoy a 10% down payment requirement.  Most investors have found down payments requirements of at least 25% with other programs.
There is another benefit of this program, NO MORTGAGE INSURANCE!  This additional expense can reduce the amount of buying power for any buyer.  The interest rates … (2 comments)

homepath: Cure for limited inventory - 07/21/13 09:57 AM

 
There are no shortage of media stories about the limited number of homes available for sale in most markets.  Buyers are still plentiful in the market so the question becomes, how do we find them the right home?  Well, maybe the cure for limited inventory is simply find a home that isn't quite suitable as is.  I am not suggesting that a buyer settle for something that they don't want, but with the many renovation loans available, they can have the home of their dreams.
There are several renovation loan programs available in the marketplace.  They are:
FHA 203 … (55 comments)

homepath: How Much Money Do I Need to Buy a Home? - 05/19/13 09:48 AM
How much money do I need to buy a home?  Well, the simple answer is it will depend. 
The first question that needs to be answered is which financing program you are applying for.  Each program has their own minimum down payment requirements.  For example, the FHA mortgage will require a 3.5% down payment whereas, the USDA loan is a 100% financing program that does not require a down payment.  The conventional Homepath program only requires a minimum of 3%.  And of course, I can't forget the $100 down HUD program for the purchase of a HUD foreclosure.
Now that we have … (4 comments)