OfflineWas wondering if anyone new what this meant: HomePath Mortgage & HomePath Renovation Mortgage Financing. I am finding some properties 4/2 and 3/2 for under $50K, over 1800 sq ft. beautiful homes. however, i haven't finished dean's book, nor completed all research for the area. Should I try to make a deal for these properties? Or is it still too soon? Any comments are appreciated.
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Nobody can tell you when is the right time to jump in. If you feel you have the necessary knowledge behind you and you do (This Site) Then go for it. There is no right time and no wrong time, but the longer you think and procrastinate about it, the longer you will stay out of the game. You have a site at your disposal with a bunch of people with a ton of knowledge to help you through it. As long as you have your exit clauses in place, jump in and test the waters. The waves get rough, but the ride in is truly the best. GO FOR IT......Jan
I just really feel these properties are too good to pass up. I know the neighborhoods and the homes are all quite nice. The area is growing too. It's not far from Disney attractions, etc....Thanks for the help.
finish the book "PFRRN", so that you don't get yourself into some jam where you're going to freeze up, or fall apart over. That way you'll at least know how to go about doing things correctly as well as what you should look for before you make offers on a property. I was in a rush too when I first started and I kept trying to go it without finishing the book "PFRRN" and I kept finding myself coming back here every minute of the day seeking answers for the questions that I had regarding what to do and what not to do, when all along those answers where in the book if I had just finished reading it like i should've. So, again, I would say finish reading the book, it's packed with valuable info for any newbie.
Bryant Slade
HomePath Mortgage & HomePath Renovation Mortgage Financing is the banks requirement to purchase the property. You must be qualified by HomePath before they will even consider an offer, IF you're doing financing. If you're paying cash than you do not need to worry about HomePath. And finish the book and read the threads on this site in regards to your strategies. Going in with 1/2 the information is shooting from the hip and you're going to get yourself in trouble.
KimmyJ
Press on...
I believe the Homepath financing usually deals with Fannie Mae properties. The following link to the Homepath Fannie Mae website should answer the majority of your questions. The link is as follows:
http://www.fanniemae.com/homepath/financing/index.jhtml
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the book is great but this site is AWESOME i can hardly stay away. so much great info and people REAL PEOPLE to answer and give advice on any topic.
go with your heart. finish the book asap but also take a look at the properties and see why they are cheap, ask alot of questions and if you pray even if you don`t pray and ask GOD for direction.