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Answers (7)
" In today's market, Fannie and Freddie may not be the way to go. Depends on buyers circumstances."
What circumstances Wes, Please explain when it would not be a good idea in your expert opinion. I'm sure the OP wants to hear your ideas on why a Fannie HomePath mortgage is not the way to go.
What circumstances Wes, Please explain when it would not be a good idea in your expert opinion. I'm sure the OP wants to hear your ideas on why a Fannie HomePath mortgage is not the way to go.
- Wes Black
- Contributions:509
In today's market, Fannie and Freddie may not be the way to go. Depends on buyers circumstances.
So Gene; what's the APR on that 7/1 IO you are pitching and you seem to be missing a few other disclosures that are required under TILA for an interest only variable rate mortgage. Did you know that's a HUGE violation?
- zee1234
- Contributions:31
with homepath mortgage we dont have to pay PMI though or they charge higher interest to cover pmi portion?
- Gene Riggs, "govagent1"
- Contributions:72
Home path is actually a joke. I have no idea why someone would go that route. I am geting all of my clients 3.75 fixed right now at the same cost and faster than home path. Fannie and Freddie are not the way to go.
If you want interest only you would be better off with a 7/1 arm at. 2.75% amd pay it off or down in the 7 years or sell it. The 7/1 are and interest only are only for those with a serious plan. They are not for the everyday home owner.
If you want interest only you would be better off with a 7/1 arm at. 2.75% amd pay it off or down in the 7 years or sell it. The 7/1 are and interest only are only for those with a serious plan. They are not for the everyday home owner.
- zee1234
- Contributions:31
just wanted to be on a safe side, if housing market falls again even further we dont have to lose our principle money but just walk away if economy recovers we can pay it off in full, sell or refinance, i think it is a better option than renting a house
- Caveat Emptor
- Contributions:500
... why not just rent a house?
is anyone here doing HOMEPATH financing? on homepath websites it says ineterst only option available
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