Tag Fannie Mae

Tag Fannie Mae

Fannie Mae Homepath Loan Program Discountinued October 6, 2014

John Thomas September 19, 2014 Tags: , , ,
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Fannie Mae Homepath Mortgage Loan Program will no longer be eligible for use by home buyers effective October 6, 2014. Fannie Mae designed the Homepath loan program to be used to purchase specifically targeted homes in their inventory of homes for sale. The Homepath loan is a special loan program that allows a home to be purchased with no appraisal and no mortgage insurance with only putting down 5% of the purchase price as a down payment. The original program only required 3% down payment but that was increased to 5% down payment effective November 1, 2013.

The highlights of Fannie Mae Homepath Loans are as follows: Keep Reading...

Fannie Mae makes it tougher for First Time Home Buyers in Delaware

John Thomas June 13, 2007 Tags: ,

Fannie Mae makes it tougher for First Time Home Buyers in Delaware

Fannie Mae made significant changes to its Desktop Underwriting (DU) for My Community programs.  The guidelines have changed to make it harder for first time home buyers to qualify for a mortgage to purchase a home with little to no money down.  The guidelines took effect May 19, 2007.  Borrowers who qualified before May 19th, may no longer qualify under the new guidelines. Keep Reading...