Have you heard about all the upcoming changes to the lending world? People are asking us everyday about this change or that new regulation so why not hear it from the expert. Thank you to Johnatan Romero with New American Mortgage for shedding some light on these questions.
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With several major changes occurring to FHA and USDA on October 1st, I’d like to focus on another great loan program with a low down payment and NO PMI! Fannie Mae's HomePath program is available to purchase qualified foreclosed homes (owned by Fannie Mae) with expanded conventional guidelines, competitive mortgage rates, and often times with special incentives (like right now!).
Here is some basic information about this program created to purchase Fannie Mae foreclosed homes:
- Property must be eligible. You can go to www.homepath.com for eligible properties
- Up to 97% loan to value for owner occupied.
- Appraisals are NOT required
- No private mortgage insurance if your credit score is 660 or higher.
Fannie Mae is offering a special of up to 3.5% of the sales prices towards the buyers closing costs as well as a bonus to buyer’s agents.
This offer is for owner occupied/primary residences only
704.918.LOAN (5626)
704.577.3028 - Cell
Home of the 7 Day Clear to Close!
NMLS License: 177961 Johnatan Romero
Looking for the perfect Charlotte area home, visit our website for all the available properties.
Visit www.MyCarolinaHome.net
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