Choices: When the Appraised Value Comes in Lower than Your Purchase Price
If you are purchasing a home and the appraised value comes in lower than the sales price, this can be a deal-killer for many buyers. Lenders calculate the loan amount based on the lesser of the purchase price or the appraised value. If you’re at the Loan-to-Value...Homepath 3.5% Closing Cost Assistance Expiring Soon
The 3.5% credit towards closing costs (and buying down an interest rate, if applicable) is expiring soon! For any Homepath real estate purchase, you can still qualify for the 3.5% credit. So if your purchase price is $400,000, you will receive a credit from Fannie...Fannie Mae Offers 3.5% Closing Cost Assistance
This 3.5% assistance applies to Homepath properties, but it is available only during a small window of time. Homepath is an excellent financing program available for Fannie Mae-owned homes. Check out the features of Homepath in my previous blog, but as a quick...Applying for a Loan as “Married” or “Married Filing Separately” – Not Just a Tax Question
“I’m considering applying for a conventional loan. I have excellent credit, but my husband does not. Can I apply for the loan on my own?” This question comes up quite a lot, especially with newly married couples that come into their marriage with different...Excellent Financing Program for Fannie-Mae Owned Homes
For those of you in the market to purchase a home, you should definitely check out www.homepath.com This program is for the purchase of Fannie Mae-owned homes. Some of the program’s main highlights are: Low down payment (as little as 5% down on conforming loans or...Loan Calculator
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