I noticed Fannie Mae rolled out recently the HomePath Mortgage program which has lower requirements and will assist in light rehabs on the home. However the program is for Fannie mae REO’s only.
What are the basic FICO requirements, DTi, etc? What is considered light rehab dollar wise? Max Loan Value?
Also interesting how no PMI required and I think it is 1 loan? Downpayment only 3% too. Is closing cost controlled since Gov’t product as well like FHA?