Fannie Mae Foreclosures and the HomePath Mortgage
Are you looking for a place to put your money?

Right now there is a record amount of money sitting in depository accounts, checking, savings, money markets, etc… earning little to no interest. Does this sound familiar?
So the question becomes, where do I put my money? Stocks seem risky, bonds look inflated, and gold is at record prices. Where can I put my money, where it can grow, and/or be backed by a tangible good?

Here in Florida, now is your chance to buy something, under market value, with minimal initial investment. Real Estate is a tangible good being priced very aggressively.
Given this information, consider this: If you have $20,000 in the bank you are probably making less than 1%. If you take that same 20k,use it as a down payment to buy a house, earn $100 over your mortgage, you will make a 6% return. You will also have someone else pay your mortgage, and grow equity in the property.

Fannie Mae has developed a great program to help sell off some of their inventory of foreclosures. An investor can purchase a HomePath designated Fannie Mae Foreclosure* with only 10% down; if you are looking to purchase as a primary residence, only a 3% down payment is needed.

Eligible Fannie properties require NO PMI, and currently have very low interest rates! Go to HomePath.com to get a list of homes. I can help you finance these properties, for more information, please contact me for additional details at info@morganfinancial.net or 321-757-3570.

Highlights for available financing include:
• 97% financing for Primary Residences
• 90% financing for Second Homes and Investment Properties
• No appraisal required
• No mortgage insurance (MI) is required – although Fannie Mae price adjusters will apply
• Flexible mortgage terms – including fixed-rate, ARMs or the Interest-Only payment feature*
• Min 620 score for 80% or lower LTV
• Min 660 score for 80.01% and above LTV
• FNMA Desktop Originator/Underwriter® Approve/Eligible Required**
• Includes Condos as long as project has sufficient Fidelity, Master Hazard, and Flood (if applicable). HO6 “Walls in” Coverage also required

* The property must be designated on HomePath.com as eligible for HomePath financing. Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply.

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