HOMEPATH PROGRAM HIGHLIGHTS 615-482-1498 Investors Dream!!!!!

HOMEPATH PROGRAM HIGHLIGHTS

(Only FNMA REO's are eligible for Homepath)

-Purchase Transactions Only -Single Family Attached, Detached, Condo's, and PUDS

-Owner occupied, Second Homes, and Investment Allowed

-Up to 97% financing available on primary residences

-Up to 90% available for second homes and investment properties

-Minimum Credit Scores:

- 620 for up to 80% LTV

- 660 for greater than 80%

-NO APPRAISAL REQUIRED, ltv based on sales price

-NO MI REQUIRED regardless of LTV (price adjustments will apply if LTV is greater than 80%)

-DU Approve/Eligible is required

-Down Payment Sources included: borrowers funds, a gift, or a grant from a non-profit agency

-No extended locks are available

- 6% seller contributions allowed for primary residences and second homes, 2% for investment properties *Note: Anticipate longer processing times as the file must be sent to the investor for prior approval.