1. Posted: 08/06/2010 at 11:40PM
I recently closed on my first investment property using the Fannie Mae Homepath product. I was able to close on the property with reasonable closing costs, 10% down as an investor, and closed within 30 days. I didn't pay any points at closing, so the interest rate was high, 6.25%. I used the big bank, Wells Fargo, for financing.
2. Posted: 09/22/2010 at 09:17AM
I closed on a Homepath loan in August. It was a really good buy but I had to put 15% down. HomePath changed requirements in August. 3% OO, 10% 2nd Home, 15% Investors. The process was not bad at all. Paid 1.5 points for a rate of 5.25. No PMI, No Appraisal. I did have to buy a survey though.
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