HomePath Financing Mortgage Program Overview/Updates

By
Mortgage and Lending with Guaranteed Rate NMLS# 2611 NMLS #151088

HomePath® Financing Highlights

 

  • Low down payment and flexible mortgage terms (30 & 15 Yr fixed-rate with available interest-only option)
  • Up to 97% financing for Owner Occupied homes
  • Up to 90% financing for 2nd homes
  • Up to 90% financing for Investment Properties
  • Borrowers purchasing a 2nd home or investment property with maximum 75% LTV/CLTV can own up to 10 financed properties
  • No mortgage insurance option (over 80% LTV requires a 660 credit score and additional fee)
  • No appraisal fees (Sales price is used to determine value)  
  • 1 to 4, condos, and PUD's are eligible

This special financing is available exclusively on Fannie Mae homes with the HomePath logo

Search for Fannie Mae REO's at http://reosearch.fanniemae.com/reosearch/.



Program Basics


HomePath Financing for Fannie Mae REO's

HomePath Financing - Buy a Home in Georgia With Only 3% Down

Georgia Investors Can Purchase With as Little as 10% Down

Buy an Alabama Second / Vacation With as Little as 10% Down.


Conventional Guideline FAQ - Assets

Self-Employed???? Acceptable Use of Business Funds for Closing


Conventional Guideline FAQ - Credit

Do You Need a New Credit Report Before Closing??? - Fannie Mae Clarifies Its Position

Fannie Mae Updates Policy for Borrowers With a Previous Bankruptcy

Fannie Mae's Latest Guidance for Foreclosures, Bankruptcies, & Short Sales


Conventional Guideline FAQ - Income

Business Expense Deductions vs Qualifying for a Mortgage

Minimum Time of Employment - Fannie Mae Conventional Guidelines




Conventional Guideline FAQ - Miscellaneous

Multiple Mortgages for the Same Borrower - Fannie Mae Conventional Guidelines

Fannie Mae First Look Initiative - The Owner Occupant Advantage

 

Conventional Guideline FAQ - Property 

Purchasing a Condo Using HomePath Financing





Please check back for program updates as they become available.

 

Posted by

 

It is always advisable to consult with a knowledgeable lending professional when navigating today's turbulent mortgage and real estate marketplace.  I am committed, qualified and equipped to help you evaluate your options!

 

Also check out:

Conventional Financing Mortgage Program Overview/Updates

FHA Financing Mortgage Program Overview/Updates

USDA Financing Mortgage Program Updates  

 

Programs Include:

 

  • Conventional (Fannie Mae & Freddie Mac)

  • FHA, USDA, & VA

  • Jumbo to $3,000,000

  • Bank Statement Program for Self-Employed Borrowers

  • Foreign National Program

  • Investor Cash Flow

  • Non-Warrantable Condos

  • Georgia Power Leaseholds for Lake Burton, Rabun, & Seed

 

  • ************************************************************************************************************
  • Rodney Mason is a Licensed Branch Manager located in Atlanta, GA.   He can be reached at (404) 591-2453.
  • Providing financing for all cities across Georgia including: Acworth, Albany, Alpharetta, Athens, Atlanta, Augusta, Austell, Avondale Estates, Blairsville, Bloomingdale, Blue Ridge, Bogart, Brunswick, Buckhead, Buford, Canton, Carrollton, Cartersville, Chatsworth, Clayton, College Park, Columbus, Commerce, Conyers, Covington, Cumming, Dahlonega,  Dacula, Dalton, Dawsonville, Decatur, Doraville, Douglasville, Duluth, Dunwoody, East Point, Fayetteville, Flowery Branch, Gainesville, Greensboro, Hampton,  Hapeville, Hinesville, Hiram, Jackson, Jefferson, Jonesboro, Kennesaw, Lagrange, Lawrenceville, Lilburn, Lithia Springs, Macon, Madison, Metter, Morganton, Morrow, Newnan, Norcross, Oakwood, Peachtree City, Pooler, Richmond Hill, Riverdale, Rome, Roswell, Sandy Springs, Savannah, Scottdale, Statesboro, Stockbridge, Stone Mountain, St Marys, Sugar Hill, Suwanee, Thomasville, Thunderbolt, Tucker, Tybee Island, Valdosta, Waleska, Warner Robins, Waycross, Wilmington Island, Winder, Woodstock, and many more.

    Providing financing for all cities across Alabama including:
    Alabama Port, Anniston, Athens, Auburn, Bessemer, Birmingham, Boaz, Bridgeport, Cedar Bluff, Chickasaw, Clayton, Coden, Dauphin Island, Decatur, Dothan, Eufaula, Fairfield, Fairhope, Florence, Foley, Forestdale, Fort Morgan, Fort Payne,Gasden, Grand Bay, Gulf Shores, Heron Bay, Homewood, Hoover, Jasper, Josephine, Madison, Meadowbrook, Midfield, Mobile, Mon Louis, New Hope, Orange Beach, Oxford, Oyster Bay, Phenix City, Prichard, Rainbow City, Saraland, Satsuma, Scottsboro, Selma, Troy, Theodore, Tillmans Corner, Trussville, Tuscaloosa, Vestavia Hills, Warrior and many more.

  • Providing financing for all cities across Florida including: Altamonte Springs, Atlantic Beach, Boca Raton, Bradenton, Cape Coral, Clearwater, Coral Springs, Daytona Beach, Delray Beach, Destin, Fort Lauderdale, Fort Myers, Fort Walton Beach, Gainesville, Hollywood, Homestead, Jacksonville, Jupiter, Key Largo, Key West, Lake City, Largo, Marathon, Mexico Beach, Miami, Naples, New Smyra Beach, Ocala, Orlando, Palm Coast, Panama City Beach, Pensacola, Pompano Beach, Port St Joe, Sanibel Island, Sanford, Sarasota, St Augustine, St Petersburg, Tallahassee, Tampa, Vero Beach, West Palm Beach, & Winter Park, and many more.

 

  • Providing financing for all cities across South Carolina including: Aiken, Anderson, Beaufort, Bluffton, Charleston, Columbia, Conway, Edisto Island, Florence, Greenville, Hilton Head, Johns Island, Myrtle Beach, North Augusta, Orangeburg, Rock, Hill, Spartanburg, Sullivans Island, Summerville, and many more.  
  •   

    Providing financing for all cities across Tennessee including: Athens, Brentwood, Bristol, Chattanooga, Clarksville, Cleveland, Cookeville, Dyersburg, Franklin, Gatlinburg, Greeneville, Johnson City, Kingsport, Knoxville, Maryville, Memphis, Morristown, Murfreesboro, Nashville, Newport, Oak Ridge, Pigeon Forge, Sevierville, and many more

 

All mortgage lending guidelines are accurate at time of post, but are subject to change without notice.  Please call for the most current information.

    

           

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Rainer
396,709
Joan Valverde
Synergy Realty Group Inc - Colorado Springs, CO
GRI,CDPE,CNE,MRP,SRES Colo Sprgs, Blk Forest, Monu

Rodney,  Thanks for the information, I know this was from earlier but it was just re-posted.  I have a client that may use the Homepath Financing.  The no MIP is attractive, but if there are other fees that make this not worth it we will have to look into that for sure. 

Nov 20, 2010 04:43 PM #1
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Rainmaker
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Rodney Mason

VP of Mortgage Lending - AL, FL, GA, SC, & TN
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