Whoa, that is a lot of loan changes

By
Real Estate Broker/Owner with Live Love Homes-Keller Williams, Charlotte, NC Ballantyne Area

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

  Team Ludlow New American Charlotte motgage homes

 

 

 

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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Rainmaker
2,549,076
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

Unfortunately Lisa we are in for a lot of changes as time goes on. The government tends to always over correct and there is where the problem begins.

Sep 28, 2011 01:08 PM #1
Rainer
127,875
Lisa Ludlow Archer
Live Love Homes-Keller Williams, Charlotte, NC Ballantyne Area - Waxhaw, NC

Charles,

I know my friend.

Sep 28, 2011 02:34 PM #2
Rainmaker
66,146
Lisa Long
Heather Roda Broker - Paso Robles, CA

This sounds like another good option for home buyers in this market. Thank you for telling us about it. There are so many changes that its hard to keep up.

Sep 30, 2011 04:55 AM #3
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Rainer
127,875

Lisa Ludlow Archer

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