Kevin Mikrut

Homepath mortgages are from the federal government, they are a Fannie Mae loan product.

You are probably asking yourself, so whats so good about homepath mortgages, well here it is!

HomePath Mortgages allow owner occupied properties to come in with as little as 3% down, no mortgage insurance, no appraisals, and they normally can close out in as little as 14 days. Pretty cool!

Next, is the part about Homepath Mortgages that will rock your world!

Homepath Mortgages allows INVESTOR loans as well with some really killer terms. They allow investors to come in with as little as 10% down, no appraisals, and no mortgage insurance as well.

I have investor clients that will only buy these Homepath mortgage approved properties (They must be Homepath approved) because they can buy twice as many homes since they are only required to put down 10% instead of the normal investor loans of 20% down.

So, you want to know about the real deal with the current market conditions here in Las Vegas. Here it is! REO/Foreclosure properties are out, Las Vegas Short sales are in. All of the big boys here in town are wondering what has happened to their prized REO/Foreclosure business'. NEWS FLASH!!! That is soooo 2009!

So here's the real deal - lenders see to be focusing in on the Las Vegas valley to get these short sales done.

So here's the good news to agents and consumers alike - I have been successfully getting approvals from these guys within 45 days - some 60 but more like 45.

If I were a buyer right now (which I am) I would be looking at short sales from people like me that know what their doing and get out of the reo rat race.

We have been getting these Las Vegas short sales, depending on the lenders, at really nice discounts as well with some really favorable terms.