Special offer

Great new loan program

By
Mortgage and Lending with Mortgage Pro

  There is a great new loan program available for purchasing REO properties owned by Fannie Mae. A borrower needs a 660 credit score to qualify. It will allow your buyers to borrow up to 95% with no mortgage insurance. That's right, NO MORTGAGE INSURANCE!  There is no need for an appraisal!

  This is a fantastic program that can save home buyers thousands of dollars! There are very few Lenders who can offer this new program, but I am glad to say that we are one of the few! I was so excited about this program that I had to share it on here. Contact me for more details!

Monika Depalo
GAFF'S REFERRAL'S INC. - Port Orange, FL
REAL ESTATE Agent/Stager

Is it available in Florida?  Congrads on being able to offer it!  Anything to reduce inventory will help the real estate market, right?

Jul 21, 2009 05:53 AM
Michael Delp
Mortgage Pro - Telford, PA

Monika,

  Yes it is available nationwide. Unfortunately, I am only licensed in Pennsylvania. Check with your local mortgage professional for availability.

Jul 21, 2009 06:01 AM
Mike Wald
Mike Wald, Scottsdale, AZ, mortgage consultant, 480-241-2632 - Scottsdale, AZ

Mike,

What's the name of this program?

I'm a broker in Arizona and have not heard of this.

 

thanks!

Jul 21, 2009 06:11 AM
Dennis Chanski
Hebron, CT

Thanks Michael, I am going to look into that! DAC

Jul 21, 2009 06:13 AM
Michael Delp
Mortgage Pro - Telford, PA

It's called Homepath. You can look up the details at homepath.com.

Jul 21, 2009 06:15 AM
Heather Oberhau
Prudential Fox & Roach - Newtown, PA
Bucks County Real Estate, e-PRO

Michael, I've seen properties advertised that they've been approved for this program, but never got to represent a Buyer in the deal.

Is there a listing of all the Fannie Mae REO properties that have been approved for this financing option?  On the Fannie Mae site maybe?

Jul 22, 2009 05:00 AM
Michael Delp
Mortgage Pro - Telford, PA

Heather,

  The website homepath.com gives a search engine for available properties by State and County. See if that is any help for you.

Jul 22, 2009 05:53 AM