Special offer

Homepath--the new alternative to FHA financing

By
Real Estate Agent with Keller Williams Seattle Metro West DRE# 91152

Do you want to make an offer on a Bank Owned property but you've been told that the Bank is only offering "cash out" or "conventional" financing?  Despair not! There's a new product in town.

Fannie Mae is now offering a great alternative to FHA financing for all of those properties that may or may not pass the rigid appraisal standards of an FHA loan. Not to mention, far more competitive in the down payment arena as well.

HomePath financing allows for up to 97% loan to value--which means that you only need a 3% down payment, versus the 3.5% down payment required for an FHA loan. Not only is the down payment less expensive, there is NO mortgage insurance, and NO appraisal fee--yes, you read correctly!

For more information about HomePath financing, or any other financing options, contact metoday and I'll put you in touch with my Lender partner. Let's get started on the Path to home ownership today!

*edited to take Freddie Mac out of the equation. Fannie Mae product only

305.931.6931 SIB Realty
SIB Realty - Sunny Isles, FL

Great, we will contact you if we have "normal" buyer, here in Florida, 90% of the buyers are cash buyers...

Sep 07, 2009 06:43 AM
Julie Chapman
Julie Chapman Broker - Ormond Beach, FL
Daytona Beach Shores, Florida

Jennifer,

This is great news.  Thanks for the information.

Sep 07, 2009 06:43 AM
Jean Hanley
Coldwell Banker Kivett Teeters - Hemet, CA
Specializing in Folks Who Want To Buy/Sell Homes

I am going to check into this Homepath Financing plan.  I see it in a lot of listings on the MLS, and just never asked what it was exactly.  Sounds like a great product and most definitely a tool I need to consider.  Thanks

Sep 07, 2009 08:26 AM
Anonymous
GPer

HomePath is only available on Fannie Mae REO, not Freddie Mac. For more information, go to www.homepath.com

Sep 07, 2009 08:33 AM
#4
Anonymous
Jennifer

Ah, thanks...I commonly link the two together. Fannie Mae it is!

Sep 07, 2009 08:55 AM
#5
Karen Anne Stone
New Home Hunters of Fort Worth and Tarrant County - Fort Worth, TX
Fort Worth Real Estate

Jennifer:  I think you would get many, many more comments on your posts if you joined some Active Rain groups, and then submitted your posts to some of those groups.  Just ansuggestion...

Also... it appears that when you made the comment above mine... # 5... you had to type in your name.  That happened because you were not signed in TO Active Rain when you made that comment.

Jan 08, 2010 02:46 AM
Anonymous
julius dock

will homepath let you do a lease option on home purchase after BK

Dec 20, 2010 07:00 AM
#7
Jennifer Hamilton
Keller Williams Seattle Metro West - Seattle, WA
Jennifer Hamilton

Julius,

When you do a lease option, you're typically working only with the Seller up until the time you want to "exercise your option to buy"...All Lenders have specific guidelines as to what/when you can do after a bankruptcy. Please shoot me an email if you would like a more specific answer to your question. I'm here to help! :)

Jennifer

Dec 20, 2010 07:46 AM