Comments on: FHA 203k Streamline or HomePath Renovation Loan: Which Is Best?

By: Jonathan Blackwell

Jonathan Blackwell — Mon, 04 Jul 2011 07:01:56 +0000

Absolutely, spread the word about the best loan products on the market – the 203K and the HomePath Renovation.

As far as the question on the HomePath above I fully agree with David; you don’t want to put 3% unless you HAVE to, the risk based rate adjustment is significant. Go 5% all day

By: David

David — Sun, 06 Feb 2011 09:04:34 +0000

Don, the HomePath Renovation loan only requires a 3% down payment. The 5% down payment requirement may be an “investor overlay” which is added restriction specific to that one lender and not coming from Fannie Mae. However on the Home Path program there is a fairly large improvement in the interest rate when you put down 5% vs. 3%. In most cases you are better off, provided you have the extra 2% for the down payment, when you invest a little more on the front end with the 5% down.

By: Woody

Woody — Fri, 21 Jan 2011 20:53:59 +0000

But the HP renovation loan does require a subject to appraisal – That is a Fannie Guideline

By: don besoyan

don besoyan — Fri, 21 Jan 2011 16:25:35 +0000

I am getting a property through the homepath renovation loan.Why am i having to put down 5% instead of the 3% down?

By: Paul Welden

Paul Welden — Sat, 30 Oct 2010 21:55:36 +0000

HI Steve. Great post on the 203k. The more that professionals like you spread the good word about the 203k, the more it will be utilized. Finding knowledgeable contractors who have been educated on the 203k, was a challenge until the 203k Contractor Directory was created. So, to find the educated and Certified 203k Contractors, just go to http://203kContractors.com.

By: Martha oliva

Martha oliva — Sun, 29 Aug 2010 16:48:55 +0000

Hi,
I have a 288 sq.ft home that needs extra sq. footage. I have a tenant that would like to purchase the home . please email me or you can call me at 985-788-7632
Thank you
Martha Oliva

By: HomePath Mortgage: Fannie Mae Pays Closing Costs | Latest Mortgage Rates and Mortgage News in Canada

Fri, 29 Jan 2010 23:42:59 +0000

[...] FHA 203k Streamline or HomePath Renovation Loan: Which Is Best? No Related Post Posted in mortgage news on Jan 29th, 2010, 4:40 pm [...]

By: Ronald &lorraine

Ronald &lorraine — Wed, 27 Jan 2010 19:16:57 +0000

I’m inquiring if you have 203k or homepath loans I need a preapproval right away. Thank you, 248-601-0377

By: sarah oldakowski

sarah oldakowski — Sat, 20 Jun 2009 22:44:09 +0000

This is bank own house, not Freddie Mac.

By: sarah oldakowski

sarah oldakowski — Sat, 20 Jun 2009 22:41:45 +0000

I would like to buy a house which requires home renovation mortgage
with 3% money down.
The house is listed for $ 164,000.but I would make an offer
for $150,000.
My credit score is poor but above 600.
I am making $ 14 per hour.workong in the bank
House needs a new kitchen cabinets and water heater
aprox. $ 10,000.
Is it possible to be aproved foe such a mortgage?

Thanks,
sarah