Homepath qualification guidelines. Help!

[Anonymous]

Hi,

I am looking to get a condo in the Chicago area that is Homepath financing eligible.
I would prob have to go homepath because of the fact that the complex is under 51% owner occupants.
I was preapproved for FHA but not Homepath. Properties up to 140K, Mid score is 680, DTI at 45% income 77k. I am willing to put up 10% down. 
The current lender said that because of recent lates on car (related to divorce) (1 year ago) and a 4 year old collection ($1k) on my credit, they couldn't approve me for homepath. Are those fannie mae requirement?? I told them I was willing to pay the collection if required but no luck.
Are there lenders out there that can underwrite a homepath loan? Please help.

[Anonymous]

There are dozens of lenders that participate in the Homepath program. List at: http://www.homepath.com/financing-lenders.html

Many reputable mortgage brokers also can help you obtain Homepath financing. The $1000 collection and the late car payments do not automatically disqualify you from the Homepath program but most lenders require that you are approved through Fannie Mae's automated underwriting system.