The marketing screams “NO PMI” get a great deal on your mortgage, so buy a house from our foreclosed inventory!
The truth is that the “NO PMI” loans are not all that great a deal. You can get approved a little easier, and you save a few pennies because Fannie Mae wants to move these properties. But the fact is the “NO PMI” mortgage thing is little more than a marketing hook to sell Homepath properties.
Keep in mind, Homepath properties can be a GREAT DEAL, if you get the right price on the property. But don’t believe the hype that these mortgages are discounted as well. Make your best real estate deal, and don’t plan for a “cheap Homepath mortgage” to save you if you don’t.
