Comments on: Home Path Mortgages: Great HomePath Mortgage Deals From Fannie Mae

By: esther

esther — Sat, 07 May 2011 01:19:04 +0000

I have a Section 8 Voucher helping me pay my reeeent. Is there any way to use the Voucher towards paying for a home.

By: L.S.

L.S. — Mon, 18 Apr 2011 23:02:58 +0000

How long does it take to get a pre-approval letter from HomePath?

By: admin

admin — Thu, 10 Mar 2011 05:27:59 +0000

Debra – always paying off bills and lowering your debt to ratio is going to help improve your fico score. Your best bet is to contact a lender to get them to advise you on the best way to begin your credit repair. Another route would be to work with someone that specializes in that field of credit repair.

By: Deborah

Deborah — Sun, 23 Jan 2011 19:17:59 +0000

I would love to qualify for a home loan. but my credit score is now 427. What is the best way to increase my credit score in 12 months. Will paying off some or all creditors increase my score

By: Krisa

Krisa — Thu, 28 Jan 2010 18:36:58 +0000

If I were to pay cash for a home (foreclosure) would I still qualify for the HomePath?

By: LEA

LEA — Sat, 16 Jan 2010 16:31:56 +0000

I have been pre-approved for an FHA loan up to 110M. My credit score is 653 (checked two days ago) my is DTI is 51%. Would I stand a chance at qual. for a HomePath Renovation loan?

By: John McCaa

John McCaa — Tue, 08 Dec 2009 19:42:38 +0000

Quick question!

What is the reserve requirements on using the HomePath loan. I currently own a rental property which I have had for 5 years and a condo for two years. Do I need cash reserves on all properties and how much?

Thanks for the help!

By: Danell

Danell — Mon, 08 Jun 2009 21:33:43 +0000

Fannie Mae’s website states that if you must have at least 35 down, but i have read where is is 3.5%, the same as FHA. Also, if your credit score is less that 660, you must have 20% down for the HomePath program. Do you know anything about this?

By: Justin McHood

Justin McHood — Thu, 04 Jun 2009 20:54:19 +0000

@Angela,

To my knowledge, you can use any type of loan to finance your home and not be disqualified due to financing type.

So yes, you can use the HomePath loan and still be eligible.

That said — be sure to check with your accountant first!

Also, here is a helpful site for many questions similar to this one:

http://www.federalhousingtaxcredit.com/2009/index.html

Justin

By: Angela

Angela — Thu, 04 Jun 2009 06:33:35 +0000

I’ve heard that when you use a private loan (something other than FHA) then you are not eligible for the $8000 tax credit Is that true. Then, if I buy a home with the Homepath financing am I still eligible for the $8000 tax credit or not?