Go to http://www.homepath.com for more information on the program and properties that qualify.
As always, feel free to contact me if I can help.
Town & Country Mortgage Srvs, Inc.
However, you can purchase a second home with a Homepath loan with 10% down. The property must be a Fannie Mae foreclosure. There is no appraisal required and you must have several months reserves in the bank and min.680 credit score.
I'll be happy to provide you more info on ths program.
Hope this helps!
Town & Country Mortgage
You can also check with Credit Unions because they don't have to fit your mortgage into the strict guidelines required by Fannie Mae or Freddie Mac. You see, the majority of mortgages are immediately sold to investors and/or Fannie/Freddie so it your mortgage doesn't fit every requirement you will be denied.
Also credit unions offer some of the lowest "lender related" fees, too.
All the best,
I have seen as low as 10% with an excellent credit score, but with Single family homes only. This does not include condo ownership.
Let me know if you would like to speak with the lender. He is hear locally but with a National Lender.