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AmeriFirst Offers Homebuyers New Financing Option

By Allison Halliday | August 2, 2011

AmeriFirst Home Mortgage has been approved as a HomePath® lender which will enable them to offer financing options for anyone purchasing a HomePath (Fannie Mae owned home) property.

At the moment there are just a small group of lenders throughout the country that are able to offer HomePath financing which is aimed at helping to stabilize and restore communities by enabling homeowners to buy foreclosure properties.

foreclosed homes
AmeriFirst can now offer mortgages on Homepath properties that have been foreclosed. Image courtesy of CS Monitor

The president of AmeriFirst, Mark Jones thinks this lending scheme offers real potential to neighbourhoods which have been blighted by large numbers of foreclosures, and Dave Gahm, CEO of AmeriFirst says "We have been working very hard over the past few months to become an approved HomePath lender. Only 65 lenders across the country offer HomePath financing, and were pleased to be able to provide our customers with these new options."

Benefits of Home Path financing include its availability for primary and secondary homes, as well as investment properties, the fact that no appraisal is required, and no mortgage insurance is necessary. Additional benefits include low down payments and flexible mortgage terms. It also includes a financing option to enable home buyers to renovate foreclosure properties which require repairs.

AmeriFirst
AmeriFirst. Image courtesy of Active Rain

AmeriFirst Home Mortgage is a community mortgage banker with more than 25 years’ experience within the real estate market. It prides itself on being large enough to provide all the products and services found in larger mortgage companies, while being small enough to have the ability to make decisions quickly, offering customers the best of both worlds.

Although foreclosures may sometimes be unavoidable, getting the properties sold on quickly is the best way to minimize impact on a neighborhood. The properties owned by Fannie Mae are listed on www.homepath.com, and all have photos, descriptions and neighborhood information. Fannie Mae only accept offers through their real estate listing agents, and recommends that buyers choose an agent who has experience with foreclosures.

Allison Halliday is a Realty Biz News contributing writer. She handles International Real Estate and is a seasoned blogger.
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