Best Way to Purchase a Fannie Mae HomePath or Freddie Mac HomeSteps Property

I teach 203k Renovation CE courses at over 40 Realtor Associations across Florida and the question I get most often is...

"Can you use FHA 203k Renovation Financing to purchase a Fannie Mae or Freddie Mac Property?"

The answer is...

FHA 203k Renovation Program (Full Version) is the BEST way to purchase any Fannie Mae, Freddie Mac, FHA PD or Bank-Owned Property!

There are 3 ways to purchase these properties AS-IS with TITAN HOME LENDING (www.titanhl.com)...

FANNIE MAE HOMEPATH LOAN: The Property can close as-is with no appraisal.
No mortgage insurance required
5% or more down-payment required
Rate and discount points are significantly higher based on credit score and down-payment
Available on Fannie Mae REO's
Perfect for buyers with their own funds available for renovation and credit scores above 700

FANNIE MAE HOMEPATH RENOVATION LOAN:
Max $35k Repair Escrow ($30k in Repairs)
A Full Home Inspection and contractor estimate are required. All items must be repaired from the home inspection
A FULL APPRAISAL IS REQUIRED
Buyer may only finance 95% of appraised value
Rate and discount points significantly higher
Credit scores below 680 may require 10% down or more
Available on Fannie Mae REO's
Best for buyers with 20% down and 720 credit score

FHA 203k RENOVATION LOANS (FULL 203k):
No Limit to repairs! $5k to max FHA Loan....can add rooms, bedrooms, garages, bathrooms etc.
All repair eligible (structural, needed or cosmetic)
We finance 110% of the "after-improved value" (15% more than Fannie Mae)
Lowest rates available
All are assumable loans
Gift funds available
All properties close AS-IS
Only 3.5% down! (sales price +improvements)
Best for all buyers 640 credit score and higher
Available on ALL HOMES! (Fannie Mae, Freddie Mac, FHA PD, bank-owned, private seller and short sale)

Please contact me if you have a buyer looking at a Fannie Mae, Freddie Mac or bank-owned property! [email protected] or 727-410-9663