Home Buying in Richmond>Question Details

Brenda Feria, Real Estate Pro in 23233

What is the best loan that you have found out there right now and why?

Asked by Brenda Feria, 23233 Mon Oct 4, 2010

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2
Jeff Kropp’s answer
The FannieMae HomePath loan allows as low as 3% down with no appraisal on homes from their list.
http://www.homepath.com. The no appraisal part is key, as I just represented a buyer who bought a home in need of some substantial repairs with this loan, good low rates. The only other option is expensive FHA 203k rehab loan that usually carries high rates and fees, and requires a lot more work.

Jeff Kropp
Exclusive Buyer Broker/Senior Mortgage Baker
1st Home Group
Lincoln Park, Chicago IL
(773)805-9305
jeff@1sthomegroup.com
0 votes Thank Flag Link Tue Oct 5, 2010
Hands down, Wells Fargo's 2% down, no appraisal.
0 votes Thank Flag Link Tue Oct 5, 2010
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