If the house I am interested in would qualify for a HomePath Loan, but is not advertised as such, can I ask for that option?

Asked by Iriselephant, Cordova, TN Sun Jun 1, 2014

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Dustie Zvola…, Agent, Memphis, TN
Tue Jun 3, 2014
Hello!

I have done a lot of Homepath in the past and Dan Tabit is right about the property having to be a Fannie Mae home and fortunately there is a great selection on http://www.homepath.com. I know the options are limited in Shelby County for lenders that offer the Homepath loans so feel free to email or call me for a few suggestions. Thanks!!!

Dustie Zvolanek,BPOr
Fast Track Realty, LLC
1045 S Yates Road ~ Memphis, TN 38119
901-767-8770 Office
901-687-7770 Cell
901-767-8769 Fax
dustie.zvolanek@gmail.com
1 vote
Dan Tabit, Agent, Issaquah, WA
Sun Jun 1, 2014
Iriselephant,
Sorry for the non-responsive spam. HomePath is a loan program available only on specific FannieMae owned properties. If the home you are interested in is bank owned by another lender/investor or is a private owner, then HomePath would not be an option.
FHA offers 3.5% down and the rates may be better, creating a similar payment, even with MI. Talk to your lender about the options they have for you and what the payments would look like.
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