Fannie Mae HomePath Mortgage

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Mortgage and Lending with Tropical State Mortgage (TropicalStateMortgage.com)

Freedom Mortgage maintains an approved broker relationship to offer HomePath financing.

Original content by STACEY KING

Fannie Mae HomePath Mortgage

 

Check www.homepath.com to see properties that are eligible for this special financing

Up to 97% financing for eligible property types/borrowers for owner occupied & up to 90% on investment properties and second homes

No MI required- pricing adjusters in lieu of MI will apply to LTV's greater than 80%

Purchase transactions only

Fixed rates, ARMs, and interest only options are available

No appraisal required- use sales price as appraised value

Allows for a loan score of 660 with 80% LTV or greater

Non-traditional credit is not allowed

Program can be used for owner occupied, second home, and investment property

Down payment (at least 3%) can be funded by borrowers own savings, a gift, a grant, a loan from a nonprofit organization, state or local government, or employer. Down payment assistance programs can't be used if they require an appraisal as we can't order appraisals on these transactions.

No homeowner's association certification (form 921) required

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