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

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Comment balloon 3 commentsShashank Shekhar • October 30 2009 09:35AM

Comments

We have used this a couple of times with good success. Great post, thanks.

Posted by Terry Miller, Miller Homes Group and Tyler Apartment Locator (Miller Homes Group) almost 9 years ago

Thanks for sharing this information.  Best wishes for continued success.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) almost 9 years ago

@Terry - Yes it is a great program if done right.

@Roy - Glad you found it useful. 

Posted by Shashank Shekhar, San Jose, CA Mortgage Broker/Lender (Arcus Lending) almost 9 years ago

Participate