A very informative 4 minute video; a must see for anyone interested in the updates to the Fannie Mae Homepath program, and especially for those interested in updates on the Eugene & Springfield Oregon HAP and SHOP programs. Also, look for information about Eugene & Springfield area VA approved condominiums. Enjoy the video! (5 comments)
fannie mae: No Appraisal Needed Fannie Mae HomePath Mortgage Program
- 11/15/10 12:09 AM
LOW money down - NO appraisal needed!!! Make the dream of homeownership come true with the Fannie Mae HomePath® Mortgage Program How it works: 3% minimum down payment—owner occupied. Gifted funds OK. No appraisal required. No monthly mortgage insurance. 10% down payment on non-owner occupied. 6% seller contributions permitted for closing cost and pre-paid assistance. Property must be listed on www.homepath.com with “HomePath® mortgage” logo. 1st time home buyer requires 3 credit trade lines & 2 months PITI reserves. 660 minimum credit score. 45% qualifying debt to income ratio. Envoy Mortgage Lenders - Value Added: In-house underwriting, processing & funding for most programs. Wide variety of (6 comments)