The Fannie Mae HomePath mortgage program is a great loan option for Orange County home buyers. And not just first time home buyers, but also move up home buyers and investors. The HomePath mortgage is the similar to the FHA program is some respects, specifically the fact that only 3% down payment is required. There are several advantages the HomePath program has over other mortgage programs.

Fannie Mae HomePath Mortgage Program Advantages for Orange County Home Buyers

• The HomePath program only requires 3% down payment. Even FHA requires 3.5% down, and most other Conventional programs in California require 10% down minimum. Not all lenders offer the 97% Flex plan, but cut off at 95%. If your lender is not offering 97% then check with another Orange County Fanne Mae HomePath Lender.
• No Mortgage Insurance required. This is huge. Mortgage Insurance is required on loans where the down payment is less than 20%. FHA has an Upfront Mortgage Insurance Premium of 2.25% (effective April 4, 2010) along with a Monthly Mortgage Insurance premium of .55%. VA loans do not have a Monthly Mortgage Insurance, but do have a “Funding Fee”, which is similar to the FHA Upfront Mortgage Insurance Premium.
• The HomePath program does not require an appraisal. Fannie Mae designates certain properties for eligibility for this program, and those homes that are eligible will not need an appraisal. This makes the loan process much easier.
• Only 15% downpayment is required for investors. This is a great option for real estate investors. Investors are required to come in with 20% to 30% on most Conventional programs, but with this program only 15%  (and with no Mortgage Insurance.)

To be eligible for the HomePath program with less than a 20% down payment, a minimum FICO score of 660 is required. With 20% down payment, a 620 FICO score is required. To find eligible properties, visit the HomePath website, where a search engine will help to narrow down the perfect property. However, before an offer can be made, it is important to get PreApproved for a mortgage first. An experienced Orange County HomePath Loan Officer can prepare customized loan scenarios based on your qualifications and goals.

Authored by Tim Storm, an Orange County HomePath Loan Officer MLO 223456– Please contact my office at Alpine Mortgage Planning, a HomePath Lender for more information about an Orange County, CA home loan.  877-786-4243 x 7.

www.OCFHALoans.com

Contact us for your Orange County Fannie Mae HomePath 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

* Alpine Mortgage Planning is licensed and supervised by the Department of Corporations under the California Residential Mortgage Lending Act. NMLS 81395.

The Fannie Mae HomePath mortgage program, which allows as little as 3% down payment with no mortgage insurance, is only available on select properties. This property, located at 53192 Odyssey St, Lake Elsinore, has been selected as being eligible for the HomePath program. FHA financing, which requires only a 3.5% down payment and would have a lower interest rate than the 97% HomePath program, is also a great option. It is of course important for prospective home buyers to get prequalified for mortgage before making an offer on a home.

	53192 Odyssey St Lake Elsinore, CA 92532 3% Down HomePath or FHA on this Lake Elsinore Home
Home Photo Gallery Virtual Tour Property Map Payment Info Request Showing Contact Me Gina Wagner  DRE #01773406. Mobile: 951-990-2309 Website: Visit Website	Price : $309,900 Bedrooms : 5 Bathrooms : 4.5 Square Foot : 4,063 Lot Size : 6 County : Riverside Property Type : Detached Year Built : 2006 MLS Number : K09102719 click for more information and pictures Property Description THIS IS A BEAUTIFUL FIVE BEDROOM, PLUS DOWNSTAIRS OFFICE ALONG WITH AN ADDITIONAL BEDROOM DOWNSTAIRS. THIS PROPERTY OFFERS MANY UPGRADES, GRANITE COUNTERS THROUGHOUT,UPGARDED STAIRWAY RAILINGS, CUSTOM PLANTATION WOOD SHUTTERS ALONG WITH WOOD BLINDS, STAINLESS STEEL APPLIANCES. UPSTAIRS OFFERS SPACIOUS LAUNDRY ROOM,GAME ROOM, LOFT AREA AND FOUR BEDROOMS WITH PLENTY OF HALLWAY CABINET STORAGE.
Equal Housing Opportunity.	Tarbell Realtors : 315 Magnolia Avenue - Corona CA 92879

Authored by Tim Storm, an Orange County, CA Loan Officer MLO 223456– Please contact my office at Alpine Mortgage Planning for more information about an Orange County, CA home loan.  877-786-4243 x 7.

www.OCFHALoans.com

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

* Alpine Mortgage Planning is licensed and supervised by the Department of Corporations under the California Residential Mortgage Lending Act. NMLS 81395.

The Fannie Mae HomePath mortgage program allows for a minimal down payment, sometimes as low as 3% down. Also there is no Monthly Mortgage Insurance, making this a very aggressive program. However, only certain properties are eligible for this program. This property shown below, 23154 Claytone, Corona, CA is one of those properties. Check it out. Also, this property is eligible for FHA and VA financing.

	23154 Claystone Corona, CA 92883 Special 3% Down HomePath Financing in Corona
Home Photo Gallery Virtual Tour Property Map Payment Info Request Showing Contact Me Gina Wagner  DRE #01773406. Mobile: 951-990-2309 Website: Visit Website	Price : $234,900 Bedrooms : 3 Bathrooms : 2 Square Foot : 1,014 Lot Size : 4,792 County : Riverside Property Type : Detached Year Built : 1987 MLS Number : K09133264 click for more information and pictures Property Description NICELY UPGRADED SINGLE STORY HOME IN DESIRABLE CORONA. THIS HOME SHOWS LIKE A MODEL,UPGRADED PAINT, CARPET AND FLOORING. KITCHEN HAS JUST BEEN UPGRADE WITH GRANITE COUNTERS AND NEW CABINETS. GOOD SIZE FRONT AND REAR YARD ALONG WITH LAUNDRY AREA IN GARAGE. THREE BEDROOMS ,TWO BATHS ALL WITH UPDATED CABINETS. CLOSE TO SHOPPING MALLS,RESTAURANTS,FWYS AND JUST DOWN THE STREET FROM THE ELEMENTRY SCHOOL.
Equal Housing Opportunity.	Tarbell Realtors : 315 Magnolia Avenue - Corona CA 92879

Call our office today and see how we can help you and your family. Ask for your Free First Time Home Buyer Report.

Authored by Tim Storm, an Orange County, CA Loan Officer MLO 223456– Please contact my office at Alpine Mortgage Planning for more information about an Orange County, CA home loan.  877-786-4243 x 7.

www.OCFHALoans.com

Contact us for your Orange County Mortgage:

877.786.4243 x 7 | tstorm (at) ochomebuyerloans.com

* Alpine Mortgage Planning is licensed and supervised by the Department of Corporations under the California Residential Mortgage Lending Act. NMLS 81395.

This Lake Elsinore property is listed for $133,300. It is a Fannie Mae REO and is eligible for the HomePath Mortgage Program. There will be no appraisal required, and no mortgage insurance on a loan amount equal to 95% of the properties value. The address, 33265 Lorimer Street, Lake Elsinore sits on a large lot and is just waiting for ther perfect buyer who wants to take advantage of this great loan program. The down payment, which would be equal to 5% of $133,300, is only $6,665. Acting now, a first time home buyer would close escrow in time to qualify for the First Time Buyer $8,000 Tax Credit.

	33265 Lorimer Street Lake Elsinore, CA 92530 Fannie Mae HomePath Financing Available
Home   Photo Gallery   Virtual Tour   Property Map   Payment Info   Request Showing   Contact Me   Gina Wagner DRE #01773406. Mobile: 951-990-2309 Website: Visit Website	Price : $133,300 Bedrooms : 2 Bathrooms : 2 Square Foot : 1,400 Lot Size : 7 County : Riverside Property Type : Detached Year Built : 1977 MLS Number : K09105844 click for more information and pictures Property Description THIS PROPERTY IS TWO ON A LOT. FIRST PROPERTY IS THREE BEDROOMS TWO BATHS WITH AN STUDIO APARTMENT ATTACHED TO A SINGLE GARAGE. THIS PROPERTY OFFER TWO DRIVEWAYS EACH HAS THEIR OWN, CLOSE TO SHOPPING ,SCHOOLS AND MAIN CITY. NICE SIZE YARD WITH DECKING AND FENCING.THIS PROPERTY QUALIFIES FOR THE SPECIAL FANNIE MAE HOMEPATH FINANCING PROGRAM. 5% DOWN WITH NO MORTGAGE INSURANCE AND NO APPRAISAL REQUIRED!
Equal Housing Opportunity.	Tarbell Realtors : 315 Magnolia Avenue - Corona CA 92879

Authored by Tim Storm, an Orange County HomePath Mortgage 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.

www.OCFHALoans.com

Contact us for your Orange County HomePath 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

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.
• **Updated – Currently a 3.5% credit towards closing costs from Fannie Mae

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 MLO223456– Please contact my office at Alpine Mortgage Planning for more information about an Orange County, CA home loan.  877-786-4243 x 7.

www.OCFHALoans.com

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

* Alpine Mortgage Planning is licensed and supervised by the Department of Corporations under the California Residential Mortgage Lending Act. NMLS 81395.