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FHA/HomePath Loans are specialty programs that are created to make it easier for borrower's to qualify for a mortgage and to refinance their current mortgages into a more affordable lower rate. FHA programs allows borrowers to qualify for a purchase of a new property with as little as only 3 % down payment, or refinance their into a lower rate HomePath streamlines and simplifies the process for the purchase of Fannie Mae-owned properties.
FHA/Homepath features:
30-, 25-, 20- and 15-year terms are all available with fixed rates
Credit scores as low as 580 may qualify
5-year adjustable-rate mortgage available
Refinance up to 97.75% of your primary home's value
Buy a home with as little as 3.5% down (primary home)
No appraisal might be required |
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