More Signs of Life in Real Estate
Posted On: September 28th, 2009 by James Posted In: Mortgage Insurance • Mortgage Programs
Mortgage Trust Underwriter Jamie Carter, has just passed along some interesting news to our staff. She says that Genworth Insurance a major PMI provider has just taken the Portland metro marketplace off of the “declining markets” list.
This means that we can now make conforming loans up to 95% of their appraised value.
Before this happened our access to 95% financing was mostly found through FHA loans (which go up to 96.5%). There was some insurance available, but it was very limited, and expensive.
Continue Reading – More Signs of Life in Real Estate
Special Foreclosed Property Financing
Posted On: July 12th, 2009 by James Posted In: Mortgage Insurance • Mortgage Programs
My company Mortgage Trust has access to a special Fannie Mae loan program called the HOMEPATH mortgage. It allows buyers to buy homes with 3% down, No mortgage insurance, and No appraisal. Credit scores are flexible, as are payment structures (ARMS are available, as well as interest only payments). Here’s what is really interesting about this program, The Homepath loan is ONLY available for certain properties. The house used as collateral MUST be a Fannie Mae Bank repossessed property. So this amounts to “special financing” for foreclosed homes.
One of the best things about this program is its availability to Investors! You can buy a Fannie Mae Foreclosed property with this program, the minimum downpayment is only 10%. So you can invest in real estate with 10% down… NO mortgage insurance, and NO appraisal!
Please contact me for details.
SEARCH FOR AVAILABLE FNMA FORECLOSURES HERE.
