I recently received this information, from my friend and colleague, Babak Moghaddam
with Charter Pacific Lending Corp.

If you have been pre-approved for an FHA loan and have been discouraged by writing offers which never get accepted you should consider the Home Path loan.  Many FHA transactions fall through because the subject property does not meet FHA’s minimum property standards, or the condominium project is not an FHA approved project, or there are multiple offers and the seller accepts an offer from a buyer with conventional financing.  

With Fannie Mae’s Home Path financing you can purchase a Fannie Mae (REO) owned property which can be found at www.HomePath.com   WITH 3% DOWN, NO APPRAISAL, NO MORTGAGE INSURANCE, NO CASH RESERVE REQUIREMENTS, and NO HOA REVIEWS. The entire down payment can be a gift and in most instances Fannie Mae will also pay up to 3.50% of the sales price towards down payment. This helps minimize the cash requirement from the buyer. Another advantage of Home Path financing is the quick closing time. In most instances these transactions close in 30 days or less.

To apply for Home Path Financing, contact Babak .  For information regarding the purchase of a Home Path property, contact Phyllis.



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