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Rates on homepath mortgage compare to fha?

If I go homepath will my mortgage rate be lower? And will i still need to pay for mortgage insurance by melick100123999 from Aurora, Colorado. Sep 23rd 2014 Reply


David Hosterman NMLS 220562 (dhosterman)
#13 ranked lender in Colorado - 26 contributions

The Homepath product is going away in October so the sooner the better to get going on this. Fannie Mae is replacing this with their Homestyle program. The rate for Homepath is typically higher but there is no MI. Let me know if I can help in any way. Thanks and have a great day!

Sep 23rd 2014
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Dave Metsker (DaveMetsker)
#37 ranked lender in Oregon - 2,317 contributions

David answered this well.

Sep 23rd 2014
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Justin Borvansky (JustinBorvansky)
#41 ranked lender in Colorado - 7 contributions

You could look at the CHFA advantage loan program with no mortgage insurance. 97% loan to valueGive me a call if you have questions. Justin Borvansky- Citywide Home Loans 303-919-4288

Sep 23rd 2014
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James Barath (JamesBarath)
#9 ranked lender in Indiana - 351 contributions

Mortgage rates for FannieMae HomePath loans are generally higher than a standard insured conventional loan due to the fact that there is no mortgage insurance.

Sep 23rd 2014
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Kay Cleland (kay@kcmortgagecolorado.com)
#3 ranked lender in Colorado - 225 contributions

Fannie Mae Homepath does have a higher rate than FHA, but FHA does have Mortgage Insurance. We would need to do the comparison and see what is your best option. I am a local mortgage broker and would be happy to assist you. Kay at KC Mortgage llc. , kay@kcmortgagecolorado.com 720-670-0124

Sep 23rd 2014
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