2014 upadted information for HomePath ?

[Michael Dunn]

I am slowly, but surely, getting closer to purchasing a home this Spring, but still for the life of me, I can't seem to find any " reliable " information, as to what the minimum DownPayment ( Percentage ) wise is, if purchasing a HomePath home as an Investor ? I have heard 5% and I have heard 10% . Does anyone know for sure what it is ? Thanks much - Michael

[Michael Smith]

If the home will be your primary residence, the minimum down payment is now 5%.

If the home will be a second home or investment property, the minimum down payment is 10% for you first 4 financed properties.

Properties 6-10 as a second home or investment property require 25% down.

And yes, no appraisal or PMI with HomePath!