The FANNIE MAE Home Path Program is HOT right now… Fannie Mae is paying 3.5% of the borrower’s closing cost making it by far the least expensive mortgage program for Seattle area first time homebuyers. Also, from September 23rd to December 31, 2010, Fannie Mae is offering a commissions bonus of $1,500, on top of the standard 3% commissions. (CLICK HERE for Homepath Program Q&A Sheet)
As an exclusive Seattle Fannie Mae Mortgage Lender, I am able to underwrite and fund FANNIE MAE mortgage loans in-house creating a smooth, quick loan process. The HomePath® Mortgage program 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…)!
Seattle HomePath Mortgage Program:
– No Appraisal Required
– Low down payment – 3% down for first time homebuyers
– Low down payment for investors – 10% vs 20-25% down
– No PMI 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 (over $417,000)
– Eligible properties include primary residences, second homes and investment properties
– Minimum credit score 660
– Down payment can be a gift (very similar to FHA, but w/out FHA fees)
If you are interested in getting a list of all Fannie Mae owned homes in your area, contact me at dan.mortgageadvisor@gmail.com and I will send you the list within 30 minutes. New listings from Fannie Mae come on the market daily, and some homes typically have offers within the first 5-7 days…
Dan Keller
dan.mortgageadvisor@gmail.com
(425) 350-7136