Home Buying in 33141>Question Details

Sabrina John…, Home Buyer in 33141

I am interested in buying a condo. Please advise on what this means: This property is approved for Express

Asked by Sabrina Johnson, 33141 Mon Jan 21, 2008

Path Financing. Corporate Addendum required. Thanks!

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4
Kevin Tomlinson’s answer
Express Path Financing is a loan program for Fannie Mae REO properties only. It can offers up to 100% LTV and other benefits. Google: Express Path Financing!

Those "Express Path" properties are in the Grandview Palace.
0 votes Thank Flag Link Mon Jan 21, 2008
Also, consider http://www.miamihomeprograms.com/ for access to information and resources on additional programs that may be available to you.

Wenceslao Fernandez Jr, BS, CDPE
Keller Williams Realty
0 votes Thank Flag Link Sat May 31, 2008
HERE IS THE ACTUAL PRODUCT DESCRIPTION:

ExpressPath—a fast, cost effective way to finance your home designed with YOUR needs in mind.

ExpressPath is brought to you by PHH Mortgage and is available to borrowers purchasing eligible properties for their primary residence.

ExpressPath Benefits for Homebuyers Include:

A Fast and Simple Loan Decision Process . . . allows you to get a loan decision—not merely a pre-qualification —in as few as 20 minutes.

Most importantly, there are NO up-front application fees.

Seller– Paid Closing Cost Assistance . . . reduces the challenges you might face regarding down payment and closing cost requirements.

With ExpressPath, a property appraisal* is not required and the seller will pay the borrower's closing costs, excluding pre-paids. A PHH loan consultant can provide you with details.

Lender Service Guarantees . . . PHH Mortgage provides ExpressPath borrowers with outstanding service guarantees to give you the confidence your loan decision is the right one. Guarantees include Same Day Loan Decision, a $500 Best Price Guarantee**, and a Closing Date Guarantee that reduces your rate by 1/8th of 1% if the closing date is missed
0 votes Thank Flag Link Sun May 11, 2008
Kevin, great answer.

It is a loan program for Fannie Mae owned properties, which I feel that we will be seeing more of in the months ahead. However, they are not just in the Grandview Palace.

Good luck and happy home hunting!
0 votes Thank Flag Link Sun Jan 27, 2008
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