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Fannie Mae’s HomePath REO Program is Great for Boise, Idaho Investors  with As Little As 15% Down on Investment Properties.

That is right only 15% down on investment properties when you purchase a home path eligible property and go with Home Path financing.  This is not only a great program for investors but for homeowners and people looking to purchase a 2nd home. Below I have outlined the details:

INVESTORS:

- No Appraisal Required

- Maximum number of financed properties allowed is up to 10 if you owner-occupy the property. Max of 4 properties     allowed if the subject property is a second home or investment property.

- Rental income may be used to offset the mortgage payment if 30% equity exists. (per AVM, BPO, or appraisal)in the existing property. Fully executed lease and verification security deposit from tenant deposited in borrowers account required.

- Up to 85% LTV/CLTV

2nd HOME:

- 1 unit up to 95% LTV/CLTV

- No Appraisal Required

OWNER OCCUPIED:

- Up to 97% LTV/CLTV

- Seller Contributions up to 6%

- No Appraisal Required

Fannie Mae’s HomePath REO Program is great for investors due to the small down payments needed in order to get into the property. If you have any questions about the HomePath REO Program please feel free to contact me.

Michelle Guth
Diversified Mortgage Group
Mortgage Consultant
Direct: 208-853-7878
Michelle@dmgloans.com
ID MBL-5696 / NMLS # 36853 / 36852 / 1850
www.idahohomegroup.com

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