Homepath bid and buying process

[Kevin Parnella]

Hi all,

Has anyone ever bid and acquired a property on Home Path? The 10% down is a very attractive offer along with no PMI. The bid price seems to be pretty attractive compared to the value giving what appears to be a reasonable discount. The one downside is that the DTI looks to be capped at around 36% which is lower than the 41% for conventional loans on loans with less than 80% LTV.

Anyways, just wanted to get some feedback from anybody that has made a purchase with this route.

Have a great day.