Orange County homebuyers are quickly learning about the Fannie Mae HomePath Mortgage Program. This program is designed to help potential home buyers purchase a home that is currently owned by Fannie Mae by giving them a great deal on the mortgage financing.
Benefits of the HomePath Program for Orange County Home Buyers
- Low Down payment and flexible mortgage terms (fixed rate, adjustable, and interest only programs are available.)
- Credit does not need to be perfect.
- This program is available to both owner occupants and investors.
- The Down payment (minimum of 3%) can be funded by your own savings, a gift, grant, or loan from a nonprofit organization.
- There is no mortgage insurance.
- No declining markets policy
- No prepayment penalties
- No appraisal is some cases.
Not all properties are eligible for this program. This program is specifically for select Fannie Mae REO properties. Properties eligible for this program can be found at the HomePath website.
You Must Get PreQualified for a Mortgage Before Making an Offer
You will not be able to make an offer on a HomePath eligible property without first getting PreQualified for the HomePath program through a lender. There are several Orange County HomePath Morgage Lenders to choose from. It is always important to talk to an experienced Loan Officer who can provide multiple mortgage options based on your goals and qualifications.
What Other Low Down Payment Programs Are Available?
Orange County home buyers are also taking advantage of the FHA loan program, which only requires a 3.5% down payment and has loan amounts as higher as $729,750. Also, the VA loan program are been popular in Orange County for those who are VA eligible. The VA program offers 100% financing.
Authored by Tim Storm, an Orange County, CA Loan Officer – Please contact my office at Trust One Mortgage for more information about an Orange County, CA home loan. 877-786-4243 x 7.
Contact us for your Orange County Mortgage:
Call our office today and see how we can help you and your family. Ask for your Free First Time Home Buyer Report.
877.786.4243 x 7 | tstorm (at) ochomebuyerloans.com
*Trust One Mortgage Corporation is licensed and supervised by the California Department of Real Estate (“DRE”), License # 01087829
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