Fannie Mae Homepath Mortgage

Fannie Mae has developed a great program to help sell off some of their inventory of foreclosures. An investor can purchase a HomePath designated Fannie Mae Foreclosure* with only 10% down; if you are looking to purchase as a primary residence, only a 3% down payment is needed. A list of the complete inventory is available at www.homepath.com

Eligible Fannie properties require NO PMI, and currently have very low interest rates! Go to HomePath.com to get a list of homes.

Highlights for available financing include:

97% financing for Primary Residences
97% Single Family Homes
90% financing for Second Homes and Investment Properties
80% financing for 2-4 Unit Properties
No appraisal required
Gift Funds from a relative is allowed
No mortgage insurance (MI) is required - although Fannie Mae price adjusters will apply
Flexible mortgage terms - including fixed-rate, ARMs or the Interest-Only payment feature*
Min 620 score for 80% or lower Loan to Value
Min 660 score for 80.01% and above Loan to Value
Max Debt to Income allowed to qualfy is 45%
Minimum Loan Amount is $50,000
FNMA Desktop Originator/Underwriter(R) Approve/Eligible Required**
Condos are eligable as long as project has sufficient Fidelity, Master Hazard, and Flood (if applicable). HO6 "Walls in" Coverage also required

* The property must be designated on HomePath.com as eligible for HomePath financing. Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.

Contact me for more information and underwritting guidelines

Andrew Martinez
www.ccflender.com
866-790-6925