FHA or Homepath?

I'd advise FHA...Homepath you gotta get a Homepath eligible property and even though they are slightly cheaper they are a pain in the you know what to do.

HomePath financing is only available on HomePath homes.. and the number of homes are limited in most areas.. You will get a lower payment with HomePath, assuming you have good credit scores.. and with HomePath homes there is no mortgage insurance, and no appraisal required.. FHA will give you a lower interest rate, but once you add in the monthly mortgage insurance, up front mortgage insurance premium, the cost of the appraisal, you will pay more.. but you can use FHA on just about any home.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

The big selling point on HomePath loans is that they do not have mortgage Insurance. To make up for it, the interest rates are significantly higher than the rate on an FHA unless you put at least 5% down. Then HomePath is a little cheaper. FHA only requires 3.5% down, but does have mortgage insurance requirements, and it is easier to qualify for an FHA loan, than a HomePath loan. Finally, you can use FHA on almost any home, but HomePath is only good on homes being sold by Fannie Mae as a HomePath home. In the end, when you are ready, work with a local Licensed Mortgage Banker/Broker and have them show you the differences. If the home you choose is HomePath eligible, and the terms are better than FHA, then use HomePath, otherwise use FHA. I have use both on HomePath eligible properties, bet the decision was based on which made the most sense for that particular borrower and their situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

Homepath is a little cheaper loan but you have to buy a Homepath property. Go to www.homepath.com to check out properties in your area.

Hello, it depends on how much money you are able to put down...If you want to put the least amount of money down, then Homepath might be the best option for you but it will limit you on the property that you can purchase. Please feel free to contact me with further questions at jolson@afnmortgagelenders.com or 949.491.8607. We are a direct lender that believes in responsible lending and providing exceptional customer service, thank you.

If the property qualifies for Homepath financing then that's the way you want to go, it is the better loan. There are other loan products that depending on where you want to live are better then FHA though FHA is not a bad loan. For more details feel free to call me at Jack C 734-395-9027

WHat no has touched on with a Homepath loan, is , if there are minor repairs that needed to be done from the home inspection, you are given a choice just like in any loan, to continue or not, but sometimes the FHA appriasier can make or break your appraisal on how they noted the appriasal. especially if you are buying a bank owned property, which the bank will not do the repairs. i really like HOMEPATH, since you can put down 3%. NO mortgage insurance , and fannie mae ususally pays the closing costs linda at yourloanpartnerforlife@live.com

Both are great programs, however the FHA programs is usually a better fit for most home buyers. Call me if you have questions or want information I am local in Rochester and you can easliy come in to my office to meet with me. My office is located on the corner of Main and University in downtown Rochester.Jamie NummerVP-Sales/Loan OriginationNMLS# 87652jamie@somersetlendingcorp.comSomerset Lending Corp.439 Main StSuite 202Rochester, MI. 48307Cell 248-895-4541Office 248 686-3542Fax 248 499 9641www.SomersetLendingCorp.com

Embrace Home Loans is an approved HomePath Lender in 46 states! http://www.embracehomeloans.com/Purchase/HomePath-Mortgage Down payment (at least 3%) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer No mortgage insurance* No appraisal fees You can set up a free email alert on their site to be notified of every new listing that comes on the market that is a HomePath property in your area! http://www.homepath.com/alert.html Another advantage to HomePath is called "First Look" where investors cannot make an offer before an individual homebuyer. Also, special assistance programs and incentives can be found here: http://www.homepath.com/incentives.html Call, click, or email to learn more from Embrace Home Loans 150+ specialists standing by to answer your questions 800-333-3004 no cost and on obligation, all your information is strictly confidential. How much house can you afford? Embrace Home Loans can tell you!