Financing in Denver>Question Details

Lmcne, Home Buyer in 63301

We are buying a HomePath home & looking for an experienced lender with HP/FHA/Conv to evaluate & compare our options. .

Asked by Lmcne, 63301 Sat Aug 11, 2012

We only want to deal with someone who is the best & has a lot of experience on these types. Which loan is better for us? Does HomePath or FHA pay part of the closing costs? Will this weaken our offer? We are undecided how much to put down. Our credit score is 750 . Many thanks!

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Chad Bergman’s answer
Hello,

I'd be happy to compare your options. Homepath has two advantages over FHA & conventional financing. No mortgage insurance and No appraisal. Although Homepath financing is priced slightly different than normal Conventional mortgages. The "sweet" spot with Homepath is 10% or more down. Otherwise a normal Conventional loan would be the other next best with your credit score and 3rd would be FHA likely. But alot depends on how much you want to put down. My experience has been FNMA is usuallly willing to pay for concessions up to 3% and doesn't seem to discriminate between your financing option.

Let me know if I can help further. Pinnacle is a Mortgage Banker and Direct endorsement underwriter of Homepath, FHA and conventional mortages based in Lakewood.

Chad Bergman, CML

Sr. Mortgage Banker
Pinnacle Mortgage Group, Inc.
Direct 303-996-4899
Cell 303-875-2240
Efax 720-975-1154
http://www.MyDenverMortgage.com
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NMLS #219251 CO LMB100018433
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1 vote Thank Flag Link Sat Aug 11, 2012
I have several lenders that work with Homepath. Better question is what is your goal in purchasing the home? No broker can really advise you unless they have a chance to actually look at the deal/what you are looking to do. I would base my advice of lender on your answer to what are you looking to do with the home!

Thanks,

Bret Weinstein
303-981-1237
Bret@Marcusteam.com
0 votes Thank Flag Link Wed Aug 22, 2012
The mortgage lenders I recommend are the best. I'm happy to refer you to several of them. Send me a direct message for their names/numbers/email.
0 votes Thank Flag Link Sat Aug 11, 2012
One of the Best for this type of loan is: DJ Robbins with Golden Lenders 303-482-2361
0 votes Thank Flag Link Sat Aug 11, 2012
I would suggest you look at options other than Homepath financing and really compare the costs of the loan.

FHA financing is the path many people are choosing these days. I would suggest calling a national mortgage broker and shopping for the best rates and loan costs. Our clients have a had pretty good luck with Emery FCU at 888-709-4555.

It will not weaken your offer to go FHA and with your excellent credit you should have many options.

Good luck!
0 votes Thank Flag Link Sat Aug 11, 2012
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