As an exclusive Seattle Fannie Mae Mortgage Lender my team is able to underwrite and fund FANNIE MAE mortgage loans in-house creating a smooth, quick loan process. I believe this program will serve as the building blocks help stabilize communities impacted by recent foreclosures creating another option for homebuyers to achieve homeownership.
The HomePath® Mortgage program is now available to my agents and buyers, and can provide up to 97% financing for qualified borrowers wanting to purchase an eligible Fannie Mae-owned property. Even investors and multiple home owners can use this program (investors only need to put down 10%, instead of 20%, plus there is no PMI…)!
ATTENTION REALTORS: From September 23, 2010 to December 31, 2010, the Fannie Mae Homepath Program is offering an additional $1,500 commission on top of your stated commission. Click Here to READ THE MEMO From Fannie Mae Homepath
Seattle HomePath Mortgage Program:
– Low down payment – up to 97% financing for primary residence and up to 90% for investment property
– No MI required; however specific MI adjusters apply
– Fixed rates, ARMs and Interest-Only payment feature available
– May be available to buyers with less-than-perfect credit
– Eligibility for high balance conventional loans
– Eligible properties include primary residences, second homes and investment properties
– Minimum credit score requirements are as follows:
– 660 required for Loan To Valaue > 80%
– 620 required for LTV <= 80%
-Down payment can be funded by a borrower’s own savings; a gift; a grant; or a
loan from a nonprofit organization, state or local government, or employer (very similar to FHA guidelines, but without the additional FHA MI costs…).
· Purchase transactions only
· No appraisal required
Ask me to compare the FANNIE MAE Home Path Program to a Seattle Area FHA home loan. And even if a HomePath loan isn’t right for you, our other products or programs may fit your needs. Let me know if you would like a side-by-side comparison. I’d be happy present that to you!
You can go to http://www.homepath.com to search for directly for eligible Fannie Mae properties, or contact me directly and I can help!