Question about HomePath loans

shahn062808 · ‎03-06-2009

I know that if I go with a homepath loan that we can only purchase a Homepath property. When we apply, do I have to be on the loan along with my DH like fha loans? I live in california. Thank you.

Started Repairing my Credit: 1/2009
1/20/09: EQ-457 EX: 447 TU:460
2/5/09: EQ-509 EX:479 TU:512
2/24/09 EQ-507 TU:516
03/04/09 EQ-527 TU: 545
6/10/09 EQ-581, TU-645

DallasLoanGuy · ‎03-07-2009

it is just a conventional loan. you dont have to be on the loan and your dbts do not have to be considered.

Retired Lender

shahn062808 · ‎03-07-2009

That is good news to me, thanks for the help.

Started Repairing my Credit: 1/2009
1/20/09: EQ-457 EX: 447 TU:460
2/5/09: EQ-509 EX:479 TU:512
2/24/09 EQ-507 TU:516
03/04/09 EQ-527 TU: 545
6/10/09 EQ-581, TU-645

shahn062808 · ‎03-09-2009

So I called a lender about the Homepath loan and he said that if we don't have 20% down, we have to have a score of 660 and if we have 20% down, then the score can be 620. What a bunch of cr@p. Seriously, the homepath site states that they will work with not so great credit and only 3% down is needed. I have no hope

Started Repairing my Credit: 1/2009
1/20/09: EQ-457 EX: 447 TU:460
2/5/09: EQ-509 EX:479 TU:512
2/24/09 EQ-507 TU:516
03/04/09 EQ-527 TU: 545
6/10/09 EQ-581, TU-645