Fannie Mae Homepath financing for San Jose REO Homes : No Appraisal or MI required

Homepath was created to facilitate the purchase of the bulk of REO properties in San Jose and rest of the bay area currently  serviced/guaranteed by FNMA (Fannie Mae).

Highlights:

  • As little as 3% down allowed for owner occupied!
  • As little as 10% down for non owner occupied and 2nd Homes!
  • No Mortgage Insurance!
  • No Appraisal Needed - Value determined by Sales Price
  • You may qualify even if your credit is less than perfect
  • Loan Amounts up to $801,950  allowed
  • Loan Term Available : 30 Year Fixed
  • Transaction Purpose : Purchase Only

Borrower Eligibility

  • First Time Homebuyers allowed
  • Non-Perm Resident Aliens not allowed
  • Non-Occupant CoBorrowers not allowed

Here's How to get started :  Check www.homepath.com to ensure property is eligible for HomePath financing.  And then contact us to if you want more details on this special loan program.

 

Originally posted at -San Jose Home Loans, FHA Loans and Mortgage Rates.

 

______________________________________________________________________________________________________

Shashank Shekhar

Mortgage Broker/Banker | San Jose, CA

(408) 615-0655 | Shashank@ArcusLending.com

Ranked among Top 150 Loan Officers and Top 40 under 40 Most Influential Mortgage Professionals in the Country

Check out our 5 Star Review on Google Places and Yelp

Connect on Facebook Follow me on Twitter Watch me on YouTube 

Comment balloon 3 commentsShashank Shekhar • October 30 2009 09:35AM
Fannie Mae Homepath financing for San Jose REO Homes : No Appraisal…
share
Homepath was created to facilitate the purchase of the bulk of REO properties in San Jose and rest of the bay area currently serviced/guaranteed by FNMA (Fannie Mae) Highlights: As little as 3% down allowed for owner… more
FHA implementing HVCC as of January 1, 2010
share
It's finally happening. When I received the mortgagee letter yesterday from HUD, I must say I was stunned. Only few weeks back FHA commissioner had mentioned that he had no intention of implementing HVCC for FHA insured mortgages. But of all… more
First HVCC, then MDIA and now DRASTIC changes to FHA
share
Federal Housing Administration (FHA), which insures lenders against losses on home mortgages, announced a series of changes that will have far-reaching impact on the housing market of San Jose, the entire San Francisco Bay Area and rest of… more
95% CalHFA Loan+3% DownPayment Assistance+$8000 Tax Credit for Bay…
share
I have blogged about CalHFA 5% downpayment program & $ 8000 First Time Home Buyer Credit in my earlier posts. This post will help you find all the details on 3% down payment assistance program. The California Homebuyer’s… more
CalHFA 5% DownPayment Program for Bay Area First Time HomeBuyers
share
California Housing Finance Agency or CalHFA in short recently launched it's new program called Cal 30 - Conventional for First Time HomeBuyers in the San Francisco Bay Area and the rest of the state. This conventional first mortgage features… more
Buying a Condo in Bay Area - It won't be easy getting a mortgage!
share
A lot of surge in current Bay Area real estate market is being driven by First Time HomeBuyers Some sources estimate that they now account for 50% of the market. A lot of First Time HomeBuyers end up buying condominiums since it fits into their… more
6 Myths of FHA Lending - What's True What's Not!
share
Though FHA Lending now represents more than 30% of mortgages, there are still a lot of misconceptions that both real estate agents and the First Time Home Buyers have about this program. All the myths that I have listed below have been raised to me… more
FHA vs Conventional Loans. Which one is better?
share
If you are asking the question - FHA vs Conventional Loans, which one is better? You are not alone. I was speaking at an FHA seminar for real estate agents in Fremont, CA recently. The topic was "How FHA loans are playing a big part in… more