Reply
Valued Member
Posts: 34
Registered: ‎07-02-2012
0

Experience with Freddie Mac houses?

I put an offer in on a freddie mac home this weekend. There are no other offers at this point. Wondering if anyone has any experience with Freddie and how it went?


Starting Score: 674 8/2010
Current Score: Your TransUnion FICO® score:
703
On November 17, 2012

Goal Score: 720+


Take the FICO Fitness Challenge

Valued Member
Posts: 34
Registered: ‎07-02-2012
0

Re: Experience with Freddie Mac houses?

I am the only offer on this listing so far. They are asking 139,900 and I offered 118. They came back with 137k. Is this typical for freddie mac?


Starting Score: 674 8/2010
Current Score: Your TransUnion FICO® score:
703
On November 17, 2012

Goal Score: 720+


Take the FICO Fitness Challenge

Contributor
Posts: 81
Registered: ‎05-18-2012
0

Re: Experience with Freddie Mac houses?

I put offers in on a a few Homepath homes, I believe pretty much same deal as this.  Each house ended up having multiple offers that I put offers in on.  There was a sheet at each property though pretty much saying they know what they property is worth and they have listed accordingly.  If this is the same kind of deal then my guess is they are expecting to get close to list price.  Is this one of the homes that they put new items into already or would you need to fix it up?  I'm sure that could make a big difference too on if they would accept a lower offer.

Valued Member
Posts: 34
Registered: ‎07-02-2012
0

Re: Experience with Freddie Mac houses?

Well intitially it was listed at 160k and they have not done any repairs to it. It was listed Oct 1st. From what I've read, it seems like they don't come down much from listing price.


Starting Score: 674 8/2010
Current Score: Your TransUnion FICO® score:
703
On November 17, 2012

Goal Score: 720+


Take the FICO Fitness Challenge

Frequent Contributor
Posts: 425
Registered: ‎05-16-2012
0

Re: Experience with Freddie Mac houses?

Mine is a Freddie Mac Homepath home.. Experience has been great.. they are paying for 3 out of 4% of closing costs and did section 1 and 2 termites... and apparently Homepath will pay for any repairs that fail from my VA Apprasial also... 

Lender Pull (11/3/12) FICO EX: 740 EQ: 680 TU: 702

NFCU VISA $17.5k / USAA AMEX $6k / USAA AMEX $4k / USAA VISA $4k / CHASE FREEDOM $3k / Capital One $500
Regular Contributor
Posts: 135
Registered: ‎01-04-2012
0

Re: Experience with Freddie Mac houses?

[ Edited ]

seigex wrote:

Mine is a Freddie Mac Homepath home.. Experience has been great.. they are paying for 3 out of 4% of closing costs and did section 1 and 2 termites... and apparently Homepath will pay for any repairs that fail from my VA Apprasial also... 


We are now going thru the same thing.  No one told us about section 1 and 2 termites.  Tho we know it needs a termite inspection that we have to pay for.   And good to know they will pay for VA repairs.  We also got the 3 percent at closing as well.

FICO EQ: 633 8/15/12
lender pulled 11/3/12 EQ 661 TU 650 EX598
credit Karma 674 credit sesame: 663
B/K discharged 2/2006......closed 8/2012

May your limits be high and your balances low!

Frequent Contributor
Posts: 425
Registered: ‎05-16-2012
0

Re: Experience with Freddie Mac houses?


jnkp2001 wrote:

seigex wrote:

Mine is a Freddie Mac Homepath home.. Experience has been great.. they are paying for 3 out of 4% of closing costs and did section 1 and 2 termites... and apparently Homepath will pay for any repairs that fail from my VA Apprasial also... 


We are now going thru the same thing.  No one told us about section 1 and 2 termites.  Tho we know it needs a termite inspection that we have to pay for.   And good to know they will pay for VA repairs.  We also got the 3 percent at closing as well.


You should ask them to cover termite... from what my agent said it's pretty common for them to... worth a try

Lender Pull (11/3/12) FICO EX: 740 EQ: 680 TU: 702

NFCU VISA $17.5k / USAA AMEX $6k / USAA AMEX $4k / USAA VISA $4k / CHASE FREEDOM $3k / Capital One $500
Valued Member
Posts: 34
Registered: ‎07-02-2012
0

Re: Experience with Freddie Mac houses?

Wow, that's great they offered termites for you guys...that was the first thing they took away in their counter offer...which I'm ok with because I don't believe it applies to this house


Starting Score: 674 8/2010
Current Score: Your TransUnion FICO® score:
703
On November 17, 2012

Goal Score: 720+


Take the FICO Fitness Challenge

Frequent Contributor
Posts: 425
Registered: ‎05-16-2012
0

Re: Experience with Freddie Mac houses?

For my section 1 & section 2 they mentioned sub terranian termites and they had to separate them from the foundation, then replaced several dry rot boards on my deck.

Lender Pull (11/3/12) FICO EX: 740 EQ: 680 TU: 702

NFCU VISA $17.5k / USAA AMEX $6k / USAA AMEX $4k / USAA VISA $4k / CHASE FREEDOM $3k / Capital One $500

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.