What is a HomePath loan and where can we get one? 

Today Lending finances HomePath Loans   

The HomePath mortgage loan is a special product created by Fannie Mae to sell their inventory of foreclosed homes. There are 2 types of loans: Simple HomePath and HomePath Renovation. Check www.homepath.com to determine eligibility. 

  If the property listing on the website has this logo,

it qualifies for Simple HomePath and HomePath Renovation Financing. Your choice. 

    If the property has this logo, it only qualifies for HomePath Renovation Financing.  These properties will NOT qualify for Native American, Conventional, FHA or VA financing because they do not meet minimum requirements. 

Simple HomePath Loan Features:

• No Appraisal is required. Property is purchased “As Is.”
• Only 5% down payment required for people who will occupy the property and 15% down for investors.  Gift Funds are acceptable for down payment.
• No Mortgage Insurance and no Prepayment Penalties.
• Fannie Mae can pay up to 3.5% of purchase price for closing costs for owner occupants and 2% for investors.
 

HomePath Renovation Loan Features:

• Buyers may finance the purchase price AND repairs up to 20% of the
      “as repaired” value or $30,000 whichever is less. (Appraisal required.)
• Buyers select the contractors for repairs. Contractors must be licensed.
• Owner occupants only. $100,000 Minimum Loan Amount required.
• Manufactured Homes and Condos are NOT eligible.

Contact Today Lending for Preapproval before making offers

918-582-7283

Ask for David Walter

Or apply online at www.todaylending.com

Native American, FHA, VA and Conventional available for other properties.  ®