There have been so many home buyers looking to buy a new home with an FHA loan that have become discouraged by multiple offers and competition with all cash investors, or the recent increase in fees with an FHA loan. The homepath loan through Fannie Mae is the resolution. Here are just a few bullet points about the program, complements of my preferred lender Audrey Hutton of Prospect Mortgage:
Here are the key benefits of a HomePath Mortgage Loan:
• Only 3% down required on a primary residence property
• No mortgage insurance required
• No property appraisal required
• On Condos, no condo cert required, so if there is litigation or issues with the HOA, no worries!
• Only 10% down on 1-2 unit investment properties
• Get up to 6% in seller concessions on primary residence properties
• Allows investors to finance up to ten properties
• Funded by June 30th, 3.5% closing cost credit to the buyers
This program is not just a great resource for owner occupied purchases but also for investor purchases. With low interest rates and prime home prices, now is a great time to purchase an investment property. HomePath offers an investor loan with only 10% down.
As always, I hope to remain your trusted real estate resource. Please feel free to contact me for additional information on this program. If you are thinking of buying or selling, let's set-up a time to get together and discuss your options.