Home Buying in Markham>Question Details

tookie021602, Renter in 60429

I am a first time homebuyer, will I qualify for a Homepath Renovation Financing with a 645 credit score?

Asked by tookie021602, 60429 Fri Sep 28, 2012

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Probably - minimum score is 640 as I have been told. However, renovation loans are super difficult to get and Homepath Reno is even harder as very few lenders can do it. With a lower end score, you will probably need to have good assets, low debt to income ratio and good credit history.

I know a lender who does this and I would be happy to hook you up with them. Or I believe they are on the fannie mae website at http://www.homepath.com.

On the other hand, an FHA loan with no reno or even a conventional would be a lot easier.
0 votes Thank Flag Link Fri Sep 28, 2012
Thanks for the information. What is the difference between 203K Rehab loan & Homepath Renov Loan? Do all homes qualify for FHA loans?
Flag Mon Oct 1, 2012
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