Fannie Mae HomePath Mortgage - A Must Read

**Business with Greg** · 03-12-2009, 07:59 AM

It has been a long time since the mortgage industry has loosened up guidelines on loans. Right? This program is truly incredible. There is nothing like it out there.

Fannie Mae is offering special financing on select REO inventory and very few lenders offer the program. Hardly anyone knows about it and those who do and market it are going to sell a lot of houses! I am lucky to have it available in all 50 states. It is simply incredible for investors!

A flyer can be found here. It is my flyer but feel free to use it as an informational tool with your clients and they can inquire with their lenders.

Owner Occupied is a 3% minimum down payment however my lender requires 5%.
Second Home/Investment is 10% down payment! (nearly every loan is 20-25% down payment otherwise)
Rehab funds will be available soon.
No Appraisal Required! Property is acceptable as-is!!!
No PMI! I have had people increase their price range by 20% higher than using alternative financing and they buy more house for the same payment! More commission for you!
Less than perfect credit is acceptable.
1-4 unit properties, Condo's, PUD's, Modular, and Manufactured (Double Wide) are all acceptable.
Fixed Rate, ARM, Interest Only, 10yr, 15yr, 20yr, 25yr, and 30 yr options.
Up to 6% seller concessions!
Down Payment can be a gift, a grant, or a loan from a nonprofit organization, state or local government or employer.
Up to 10 financed properties is acceptable.
Conventional Rates.

I had a guy call 22 lenders and all of them wanted 20-25% down for properties purchased for investment. He was almost ready to put the idea to rest and he calls me and hears the great news I had to tell him.

203k and Homestyle are long and tedious loans. Someone can finally buy them as-is and make the repairs on their own.

**slavipz** · 03-12-2009, 08:15 AM

Originally Posted by Business with Greg

It has been a long time since the mortgage industry has loosened up guidelines on loans. Right? This program is truly incredible. There is nothing like it out there.

Fannie Mae is offering special financing on select REO inventory and very few lenders offer the program. Hardly anyone knows about it and those who do and market it are going to sell a lot of houses! I am lucky to have it available in all 50 states. It is simply incredible for investors!

A flyer can be found here. It is my flyer but feel free to use it as an informational tool with your clients and they can inquire with their lenders.

Owner Occupied is a 3% minimum down payment however my lender requires 5%.
Second Home/Investment is 10% down payment! (nearly every loan is 20-25% down payment otherwise)
Rehab funds will be available soon.
No Appraisal Required! Property is acceptable as-is!!!
No PMI! I have had people increase their price range by 20% higher than using alternative financing and they buy more house for the same payment! More commission for you!
Less than perfect credit is acceptable.
1-4 unit properties, Condo's, PUD's, Modular, and Manufactured (Double Wide) are all acceptable.
Fixed Rate, ARM, Interest Only, 10yr, 15yr, 20yr, 25yr, and 30 yr options.
Up to 6% seller concessions!
Down Payment can be a gift, a grant, or a loan from a nonprofit organization, state or local government or employer.
Up to 10 financed properties is acceptable.
Conventional Rates.

I had a guy call 22 lenders and all of them wanted 20-25% down for properties purchased for investment. He was almost ready to put the idea to rest and he calls me and hears the great news I had to tell him.

203k and Homestyle are long and tedious loans. Someone can finally buy them as-is and make the repairs on their own.

Didn't Fanni Mae bankrupted ?