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Health & Fitness

Connecticut Homepath Mortgage Loans

John Vecchitto, Neighbor

Hello everyone, this is John Vecchitto, a local loan officer with North-East Financial in Middletown, CT. Are you interested in buying or investing in a home with very little down? Are you looking for fast financing with no appraisal? Are you looking for a great deal on real estate? If you answered YES to any of these questions, a Homepath mortgage might be right for you!

HomePath Mortgage allows a buyer to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. 

Here’s a cheat sheet to see if a Homepath home is right for you!

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Occupancy Type:  Owner, 2nd Home, & Investment
Max LTV:  95.00%
Min. FICO:  660 (620 w/ 80% LTV)
Max Repair Amount:  35% of after improved value or $35,000 whichever is less
Min Repair Amount:  None
Mortgage Insurance Requirement:  Never
Borrower Contractor Relationship:  Allowed
Type of Repair Allowed:  Structural and Non-Structural 
Outbuildings:  No
Pools:  Yes
Building Additions:  Yes
Mold/Lead Paint Removal:  Yes
Foundation Work:  Yes
Tear Down/Re-Build:  No

 

At North-East Financial we specialize in finding the right loan product for you. If you would like to learn more about Homepath mortgage, feel free to contact me on my cell which is 860-918-0251 or send me an email at johnv@northeast-mortgage.com.

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