HomePath Loans Provide New Buyers

Imagine the tax credit going away. Oops. Happens tomorrow. What do we have in our marketing arsenal to get buyers? How about a loan that has a lesser down payment than FHA, has no mortgage insurance, no appraisal needed, and allows for up to 6% for buyers closing costs? Interested yet? The FannieMae Homepath loan program may be just what will bring you more buyers when you start to get the word out on this great product.
Tied to properties that are FNMA foreclosures, (there are 117 currently in my county alone), the details are as follows:

• Low down payment
• 5% down on DU Approve/Eligible findings with buyers own funds
• 3% down on DU Flex Approve/Eligible findings using buyers funds, a gift, a grant, or a loan from a non-profit, state or local government, or employer
• Available for Owner Occupied, 2nd home and investment properties
• No MI required! No appraisal needed (LTV based on FNMA sale price)
• Available for Conforming High Balance loan limits
• Up to 6% seller contributions up to 97% LTV
• Owner occupied = minimum 660 credit score - High Balance = 90% LTV & 700 credit score
• 2nd home = 95% LTV and 700 credit score
• Investment = 85% LTV and 700 credit score

A list of homes allowed under this program are readily available for your buyers. Add this to your marketing and watch the phone ring off the hook! You may contact me for further details.