Melanie Dages' Blog

**News on Fannie Mae New Home Path**

Eligibility Requirements for

Fannie Mae Home Path Program

Effective Monday February 9th, 2009, I’m pleased to announce the New Fannie Mae HomePath program. The New Fannie Mae Home Program is specifically designed for borrowers purchasing a REO directly from Fannie Mae.

? Standard fixed and adjustable rate products.

? Fully amortized fixed and adjustable rates.

? Up to 95% LTV 1-2 units primary residents and DW manufactured homes. Full doc, FICO 660 minimum.

? Up to 90% LTV second homes and investment properties. Full doc, FICO 660 Minimum.

? Warrantable Condos: Primary residence 80%-95% LTV FICO 660 minimum, Second Home or Investment 80%-90% LTV FICO 660 minimum.

? Mortgage insurance not required and appraisal not required. LTV is based on purchase price. Program requires HomePath Disclosure form to borrowers.

? Sellers concessions up to 6% with LTV from 75% to 95%.

? All Fannie Mae REO properties are not eligible for the HomePath financing. Property must be registered at www.homepath.com as being eligible for HomePath financing.

This is a quick overview of the new Fannie Mae Guidelines for New program called Home Path. For more information please contact:

Melanie Dages MLD # 43600

Southern Fidelity Mortgage

6585 High Street

Las Vegas,  NV  89113

702-468-8737