HomePath & VA Loans

Understanding HomePath Mortgages



HomePath Mortgage allows a borrower to purchase Fannie Mae-owned Properties with a low down payment, flexible mortgage terms, no lender requested appraisal and no mortgage insurance. Expanded Seller contributions to closing costs are allowed.

Features & Benefits*

1. Low down payment and flexible mortgage terms

2. Down payment (at least 3%) can be funded by the borrower’s own savings

3. No lender requested appraisal

4. No mortgage insurance

5. Available for primary residences, 2nd homes and investment properties

6. Expanded seller contributions for closing costs allowed

*This program is subject to change without notice and approved credit; go to www.hompath.com for more information

Also check with your own Approved Mortgage lender or broker for further details

What is HOMEPATH Financing? (Free Video)

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Understanding VA Home Loans

A Veteran of the US Armed Services may be eligible for a VA Guaranteed Home Loan. If you are a veteran and want to purchase a Home, the VA can guarantee up to $417,000 of the total loan—much higher than you can get with most conventional loans. There is no need to worry about financing a down payment on a VA Guaranteed Home Loan, however closing costs do apply.

A VA HOME LOAN can help veterans:

1. Buy a Home

2. Refinance an existing home loan

3. Refinance an existing VA Loan to reduce the interest rate

ALSO:

1. No Down Payment is required

2. No mortgage insurance is needed

3. Easy qualification criteria

For more information Contact a VA Home loan Specialist of your choice.

VA Home Loans-The Basics (Free Video)


Homepath & 1st Time Home buyers

Another Question:

In Addition to the Mortgage Payment, what other costs do I need to Consider?

• Answer: Well, of course you'll have your monthly utilities. If your utilities have been covered in your rent, this may be new for you. Your real estate broker will be able to help you get information from the seller on how much utilities normally cost. In addition, you might have homeowner association or condo association dues. You'll definitely have property taxes, and you also may have city or county taxes. Taxes normally are rolled into your mortgage payment. Again, your broker will be able to help you anticipate these costs.






Ever considered a Bank-Owned Home?