Tuesday, April 15, 2014

Homepath Mortgage Loans for Kentucky Fannie Mae Properties for 2014

Homepath Mortgage Loans for Kentucky Fannie Mae Properties for 2014 




A Kentucky foreclosed property can represent a great opportunity and a good value — but a HomePath Kentucky  property can offer even more.  Some homes may qualify for special incentives, and many can be purchased with a low down payment and flexible mortgage terms through HomePath financing.  Go towww.homepath.com to check out special incentives and locate homes in your area.

I have attached Kentucky Fannie Mae Homepath Product Guides for a quick reference guidelines.  Call me today and I will help you with your loan scenarios! 

**Renovation financing is not allowed.






 UNDERWRITING

 Approve/Eligible recommendation. 


• No appraisal is required

• Ratios-must follow the more restrictive of DU or 50%
 terms provide for a variable interest rate, the monthly 
 payment must remain constant for each 12-month 
 period over the term of the subordinate lien mortgage. 



• Credit Profile

 • Minimum risk score of 660 if LTV>80%
 income for the non-occupant co-borrower.
 • Minimum risk score of 620 if LTV≤ 80%


Joel Lobb
Senior  Loan Officer
(NMLS#57916)

American Mortgage Solutions, Inc.
800 Stone Creek Pkwy, Ste 7,
Louisville, KY 40223

 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346

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