One of the great things about the HomePath Mortgage Loan program is that no appraisal is required by the lender in order to be approved for the loan. However; just because no appraisal is required, doesn't mean that people won't want to actually get an appraisal done so they can have the piece of mind that they are getting a good deal on the home they are buying. For the HomePath mortgage loan … [Read more...]
HomePath Mortgage Loan: Maximum LTV (Loan To Value)
Many people seem to be interested in the Fannie Mae HomePath mortgage program, and one of the most popular questions people have is "how much do I have to have as a down payment?" In mortgage-speak, how much money you put down when you buy a property is how you calculate what is called a loan-to-value ratio or also commonly referred to as LTV. As an example, if the sales price of your new … [Read more...]
Fannie Mae HomePath Mortgage Loan: What Properties Are Eligible?
The Fannie Mae HomePath mortgage loan program has started to become more and more popular -- people are actually calling and asking about the loan program by name. You can't imagine how strange that is in the world of mortgage-guys -- people usually call you and begin by saying something like: Hello, I would like to talk to you about qualifying for a mortgage... But recently, more calls have … [Read more...]
Home Path Mortgages: Great HomePath Mortgage Deals From Fannie Mae
We are currently working with a couple of people who are buying a home that is owned by Fannie Mae and are getting approved for the new HomePath mortgage program. As mortgage guidelines have gotten tighter over the last couple of years, it is nice to see a program come out that actually has features like no appraisal and no mortgage insurance. If you are interested in buying a home that is … [Read more...]