It's important to also keep in mind that Fannie Mae does not lend money directly. "Homepath" is simply a set of guidelines that lenders must follow when financing these specific properties. Your loan itself will ultimately be through whatever lender or bank you use.
Hope that helps!
Still a great loan.
I do however have a product that will allow you to place a three percent down payment and let you go to a 57 percent debt to income ratio with a 620 or higher score so if one of the borrowers does not meet that criteria then with the lenders higher debt to income ratio allowance you may be able to get away with only using the highest and best score between the borrowers feel free to reach out to me directly if you would like to learn more about this program as right now the interest rate is at about a 4.250% APR.
Long & Associates
Best wishes for reaching your home ownership goals!
Let me know if I can help. We do these type of loans and all others...
Suarez Home & Finance Corp.