A Comprehensive Guide to HomePath Mortgage Financing
Intro
HomePath mortgage financing presents a distinctive pathway for potential homeowners, especially for those keen on acquiring foreclosed properties owned by Fannie Mae. This financing option simplifies the home buying journey, particularly beneficial for individuals who might face difficulties navigating traditional financing avenues.
In this guide, we will explore various aspects of HomePath financing. We will delve into its benefits, eligibility criteria, application steps, and the inherent challenges that may arise. Our aim is to equip readers with the knowledge needed to assess whether HomePath financing aligns with their financial aspirations.
Setting Financial Goals
Importance of Setting Goals
Establishing financial goals is essential for any significant investment, including purchasing a home. Clear objectives help in defining what you need and want from your mortgage experience. By focusing on personal circumstances and future desires, one can make informed decisions that will influence their financial well-being.
How to Establish Realistic Financial Objectives
When setting goals, it is crucial to be realistic. Start by evaluating your current financial situation, including income, savings, and credit score. Consider the following steps:
- Assess your budget: Understand how much you can afford to spend on a home each month.
- Define your timeline: Determine when you want to purchase a home.
- Identify must-haves vs. nice-to-haves: Know what features are essential for you in a home versus additional amenities you desire.
Tracking Progress and Adjusting Goals
Regularly monitoring your progress is important to stay on track with your objectives. Use simple methods like spreadsheets or apps to track your financial journey. If you find yourself falling short, reassess the goals, adjust expectations, or create a plan to improve your financial posture.
Budgeting and Expense Management
Creating a Personal Budget
Crafting a budget is vital when considering HomePath financing. Begin by listing all sources of income and expenses. This clarity aids in understanding monetary flow and identifying areas to cut unnecessary costs. Factoring in your mortgage payment is essential to maintain a balanced budget.
Tips for Cutting Costs and Saving Money
To build savings for a potential down payment, consider these strategies:
- Limit discretionary spending: Reduce spending on non-essential items.
- Use public transportation: Save on gas and parking fees.
- Cook at home: Decrease eating out, which can significantly cut costs over time.
Tools and Apps for Tracking Expenses
There are various resources to help manage your finances efficiently. Apps like Mint and YNAB simplify expense tracking. They allow syncing with bank accounts, offering insights into spending habits.
Saving and Investing
Building an Emergency Fund
Having an emergency fund is crucial. It acts as a safety net, ensuring you can manage unexpected expenses without compromising your home financing plans. Aim for three to six months' worth of living expenses.
Types of Investment Options (Stocks, Bonds, ETFs, etc.)
Investing can also help grow your savings over time. Consider diversifying your investment portfolio with:
- Stocks: Potential for growth but higher volatility.
- Bonds: Usually safer but with lower returns.
- ETFs: Offer a blend of stocks and bonds, providing diversification and often lower costs.
Strategies for Diversifying Your Portfolio
It is wise to spread investments across different asset classes to mitigate risk. Consider mixing foreign and domestic stocks, various bond types, and even real estate investments as part of your portfolio strategy.
Debt Management
Understanding Different Types of Debt
Familiarizing yourself with various debt types is fundamental. Mortgage debt differs from credit card debt due to interest rates, terms, and consequences of default. Recognizing these differences aids in effective management.
Developing a Repayment Plan
Creating a repayment plan for existing debts is beneficial. Prioritize high-interest debts first while making minimum payments on others. This tactic reduces the total interest paid over time.
Consolidation and Refinancing Options
Sometimes consolidating debts into a single loan can simplify repayment and potentially reduce interest costs. Explore refinancing options for existing loans that might offer better rates or terms.
Retirement Planning
Importance of Early Retirement Planning
Planning for retirement is fundamental. The sooner you start, the more time your investments have to grow. This planning can provide peace of mind as you transition into retirement.
Different Retirement Accounts ((k), IRA, etc.)
Consider contributing to retirement accounts such as:
- 401(k): Often includes employer matching, which is essentially free money.
- IRA: Individual retirement accounts offer various tax benefits.
Maximizing Retirement Savings with Employer Matching Contributions
If your employer offers a matching contribution, take full advantage. Contributing enough to get the match is an effective way to boost your retirement savings without incurring significant additional costs.
Understanding HomePath Financing
HomePath financing plays a significant role in the landscape of home buying, especially for individuals interested in purchasing foreclosed properties owned by Fannie Mae. This specific financing option simplifies many aspects of the buying process, making it more accessible for those who might struggle with traditional mortgage routes. Embracing HomePath financing can lead to cost savings, favorable terms, and support for prospective homeowners who are navigating post-foreclosure markets.
Definition and Purpose
HomePath financing is a unique mortgage program designed to assist buyers in acquiring properties owned by Fannie Mae that have been foreclosed. The main purpose of this financing option is to provide an easy pathway to home ownership, particularly for those who may have limited resources or financial histories. It is tailored towards individuals looking to invest in homes that may need some renovation or updates. This financing enables buyers to purchase these properties with lower down payments and flexible credit requirements when compared to conventional mortgage options.
Buyers can leverage this financing to take advantage of good property deals that are often lower than the market average. HomePath also allows for the inclusion of repair costs in the mortgage, which attracts those looking to invest in fixer-uppers.
History and Development
HomePath financing emerged as part of a response to the housing crisis in the late 2000s, where many homes faced foreclosure due to economic turmoil. Fannie Mae realized the need for a targeted solution to manage their inventory of foreclosed properties. The program was designed to stimulate home ownership while helping to stabilize neighborhoods affected by the rising number of foreclosures.
Since its inception, HomePath has undergone multiple adjustments and improvements to meet the evolving needs of the housing market. These refinements have aimed at improving accessibility and affordability, encouraging buyers to consider properties that could benefit from refurbishment. The ongoing development of HomePath financing reflects a broader commitment to addressing the challenges faced by home buyers and revitalizing communities.
Key Features of HomePath Financing
HomePath financing is attractive due to its specific features that cater well to prospective homeowners. Understanding these key elements can help borrowers make informed decisions. This section provides a detailed analysis of low down payment options, flexible credit requirements, and the absence of private mortgage insurance.
Low Down Payment Options
One of the most appealing aspects of HomePath financing is the low down payment requirement. Buyers can obtain a mortgage with as little as 3% down. This aspect makes home ownership achievable for many who might struggle with traditional financing that typically requires much higher contributions.
Having a lower barrier to entry encourages more people to consider purchasing homes, especially properties that may need some renovation. Many buyers appreciate the opportunity to allocate funds towards improving the property rather than a large upfront payment. Such financing opens doors for those who may not have saved significantly for a down payment but have the capacity to manage monthly mortgage payments effectively.
Flexible Credit Requirements
HomePath financing has more flexible credit requirements, which is essential for a diverse group of buyers. While conventional loans may stipulate higher credit scores, HomePath programs might allow individuals with less-than-perfect credit access to funds. This flexibility can be pivotal in a market where many are underserved by standard lending practices.
Borrowers might find that lenders assess their overall financial picture more comprehensively. This means that even if your score is lower, consistent income or a steady job may help you be eligible. Flexibility in credit assessment accommodates a broader range of financial situations, empowering prospective homeowners to secure properties they desire even with less-than-ideal credit histories.
No Private Mortgage Insurance
An often-overlooked cost associated with home purchasing is Private Mortgage Insurance (PMI). Typically, lenders require PMI for buyers who make a down payment of less than 20%. With HomePath financing, there is no requirement for PMI. This can result in substantial savings over time, reducing the; monthly financial burden.
By eliminating this additional cost, HomePath financing allows buyers to retain more funds for other expenses, such as home improvements or emergency savings. This feature enhances the overall affordability of purchasing a home through this program.
HomePath financing not only eases the way towards home buying but also encourages sound financial management without the added stress from PMI fees.
Eligibility Criteria for HomePath Financing
Understanding the eligibility criteria for HomePath financing is essential for anyone considering this unique mortgage option. The distinct features of HomePath loans, including lower down payments and less stringent credit requirements, can make homeownership more accessible to many buyers. However, meeting specific eligibility standards is crucial to ensure a successful application process and alignment with individual financial situations. This section breaks down the key elements needed to qualify for HomePath financing, offering prospective buyers insights into how they can maximize this opportunity.
Basic Eligibility Requirements
Basic eligibility for HomePath financing revolves around the borrower's creditworthiness and ability to repay the loan. Generally, the following criteria need to be satisfied:
- Credit Score: While HomePath has more flexible credit requirements than traditional loans, borrowers should aim for a credit score above 620. This criterion may vary based on lender preferences but serves as a baseline for qualification.
- Debt-to-Income Ratio: A favorable debt-to-income (DTI) ratio, typically below 43%, is often required. This ensures borrowers can manage their monthly mortgage payments alongside other debts.
- Employment History: A solid employment background with consistent income can bolster an application. Lenders often seek a stable employment history of at least two years in the same field.
Overall, understanding and fulfilling these basic eligibility requirements can significantly enhance a borrower's chances of securing HomePath financing.
Property Eligibility
When considering HomePath financing, it is equally important to understand the eligibility of the property being purchased. HomePath loans are specifically designed for homes that are owned by Fannie Mae. Therefore, prospective buyers must ensure that the property meets the following guidelines:
- Foreclosure Properties: Only properties that are foreclosures owned by Fannie Mae qualify for HomePath financing. Buyers can search for potential homes through the HomePath website, which provides an updated list of eligible listings.
- Minimum Property Standards: Homes must meet basic safety and habitability conditions. Properties requiring extensive repairs or renovations may run afoul of these standards, thus disqualifying them from HomePath financing.
- Primary Residence Requirements: HomePath properties must generally be intended for the buyer's primary residence. Investment or rental properties do not qualify for this financing option.
It's crucial for buyers to verify a property's eligibility to ensure that their financing aligns with HomePath's requirements.
Income and Employment Verification
Verifying income and employment plays a vital role in the HomePath financing process. Lenders must ascertain that borrowers have sufficient and consistent income to manage monthly mortgage payments. Key aspects of this verification include:
- Documenting Income Sources: Borrowers must provide documentation of their income. This typically includes recent pay stubs, W-2 forms, and in some cases, tax returns. Self-employed individuals may need to present additional financial records to prove their earnings.
- Employment Status: Lenders require that borrowers are currently employed or have a verifiable income source. if there are gaps in employment, borrowers need to explain these periods when applying.
- Documentation for All Income: All income sources must be reported, including bonuses, part-time jobs, or any additional income streams to present a complete picture to lenders.
In summary, understanding and providing the necessary income and employment verification is key to successfully accessing HomePath mortgage financing.
Step-by-Step Application Process
Understanding the Step-by-Step Application Process for HomePath mortgage financing is crucial for prospective homeowners seeking to navigate the complexities associated with purchasing foreclosed properties. This process allows individuals to systematically approach their home buying journey, ensuring that they do not miss important steps or requirements. By adhering to a structured approach, buyers can effectively manage their expectations and ultimately secure their desired properties. Below, each step is detailed to provide clarity and guidance.
Pre-Qualification
Pre-qualification serves as the initial step in the HomePath mortgage financing process. It involves an assessment of the buyer's financial health, including income, assets, debt, and credit history. This stage is important because it grants buyers a clear understanding of their borrowing limit. Being pre-qualified signals to potential sellers that a buyer is serious and financially capable of pursuing a purchase.
Moreover, buyers should gather essential documents such as tax returns, pay stubs, and bank statements to streamline pre-qualification. Often, lenders require this information to establish a baseline for loan options. It’s beneficial to use various online tools or calculators to estimate monthly payments and understand the financial commitment involved. Starting the process with pre-qualification lays a solid foundation for the subsequent steps in the application process.
Finding a HomePath Property
Once a buyer is pre-qualified, the next logical step is to begin the search for a suitable HomePath property. Fannie Mae provides a helpful online search tool that lists eligible properties. Buyers should consider their needs and preferences, including location, size, and condition of the home. While exploring listings, prospective buyers should pay attention to established neighborhoods with potential for future appreciation.
Here are some tips for effectively finding a HomePath property:
- Regularly check the official Fannie Mae website for updates.
- Use filters to narrow down property features and price ranges.
- Attend open houses to get a feel for the properties.
The value of thorough research cannot be overstated. A well-chosen property can meet personal needs and serve as a solid financial investment.
Submitting an Offer
After identifying a suitable property, the next step is to submit a formal offer to purchase. It is advisable for buyers to work with a real estate agent familiar with HomePath properties. Agents can guide clients through making competitive offers while also considering market trends. An effective offer should include all necessary documentation, a pre-qualification letter, and specifics on earnest money deposits.
Timing is key when submitting an offer. Properties may attract multiple bids, particularly in competitive markets. Therefore, quick action can enhance the chances of securing the property. Buyers also have the option to negotiate terms or request specific repairs, depending on the property's condition and market context.
Finalizing the Mortgage
Once the offer is accepted, handling the financing becomes paramount. This stage includes several steps, including the official loan application, home appraisal, and loan underwriting. Buyers need to keep communication open with their lender, ensuring that any additional documentation requested is submitted promptly.
There may be inspections conducted to confirm the condition of the property, which can impact final loan approval. If the appraisal value meets or exceeds the purchase price, the process can proceed smoothly. However, if issues arise, buyers may need to revisit negotiations regarding property terms or modifications.
Potential Advantages of HomePath Financing
HomePath financing presents several advantages that can appeal to potential buyers, especially those looking to acquire foreclosed properties. This financing option simplifies the home purchasing process, making it more accessible for various individuals. It’s essential to understand these advantages as they can significantly impact the decision-making journey for prospective homeowners.
Cost-Effective for Buyers
One of the most compelling aspects of HomePath financing is its cost-effectiveness. Buyers often face high initial costs when purchasing a home, but with HomePath, the down payment requirements are typically lower than traditional mortgage options. This is particularly beneficial for first-time homebuyers or those with limited funds.
Additionally, the absence of Private Mortgage Insurance (PMI) can lead to substantial savings. Standard loans usually require PMI if the down payment is less than 20%. In contrast, HomePath financing does not have this requirement, allowing buyers to allocate their budget more efficiently.
Furthermore, properties purchased through HomePath often come at a reduced price compared to market value. Since these homes are typically foreclosures, they may attract less competition. This can provide buyers with opportunities to negotiate favorable terms. Thus, the combination of lower upfront costs and potential for price negotiation makes HomePath financing an attractive choice for savvy buyers.
Access to Renovation Financing
HomePath financing includes the option for renovation financing, which is another significant advantage. Many homes sold through HomePath may require repairs or improvements. With standard loans, securing additional funds for renovations can be a cumbersome process. However, HomePath offers a streamlining mechanism that combines the purchase price and the renovation costs into one mortgage.
This integrated financing option simplifies the renovation process, allowing buyers to plan improvements without needing separate loans. Buyers can budget effectively by including the expected costs of renovations, making it easier to assess overall affordability.
Moreover, access to renovation financing often enhances a buyer’s ability to increase the property’s value. Completing needed repairs can lead to a better living environment and potentially result in a profitable return on investment in the long term. For buyers willing to invest in a foreclosed home, this feature of HomePath can significantly increase the property’s appeal and viability.
"HomePath financing not only simplifies purchasing but empowers buyers with renovation options that can enhance property value."
Understanding these advantages can guide prospective homeowners in making informed decisions. The cost-effective nature and comprehensive financing options of HomePath can pave the way to successful homeownership, catered to the specific needs of each buyer.
Common Challenges and Limitations
Understanding the common challenges and limitations of HomePath mortgage financing is crucial for potential buyers. This financing option presents unique opportunities, but it also comes with its own set of difficulties. Being aware of these factors can help buyers make informed decisions and improve their overall experience.
Property Condition Concerns
When considering a HomePath property, one of the primary challenges relates to its condition. Many homes acquired through foreclosure may have fallen into disrepair. Potential buyers should be prepared to conduct thorough inspections to assess the property before buying. Repairs and renovations can be costly and time-consuming. Furthermore, some homes may have existing issues that could complicate the buying process.
- Inspecting the property thoroughly is essential to estimate future expenses.
- A home inspection can reveal hidden problems that may affect overall livability.
- Buyers may need to allocate funds for immediate repairs after purchase.
Understanding these concerns enhances the buyer's ability to assess the true value of a HomePath property relative to repair costs, ensuring a more realistic budget.
Market Competition
The real estate market can be competitive, especially for foreclosures. HomePath properties attract buyers looking for deals. This competition can pose challenges in securing desired properties. Buyers must act quickly once they find a suitable HomePath listing.
- Being prepared with financing options before viewing properties can give buyers an advantage.
- Working with a real estate agent experienced in HomePath transactions can help navigate competitive situations.
- Knowing the local market conditions aids in determining the competitive pricing of properties.
Individuals interested in HomePath financing should be ready for swift decision-making. Understanding the market landscape is essential for success.
Restrictions on Property Types
There are specific property type restrictions under HomePath financing. Not all properties qualify for this type of mortgage, and understanding these limitations is essential when searching for a property to purchase. Fannie Mae primarily focuses on selling single-family homes and condominiums in good condition. Investigating these restrictions may save time when looking at potential property options.
- Buyers should familiarize themselves with the list of eligible property types under HomePath financing.
- Residential properties needing significant repairs often may not be eligible.
- Understanding regional differences in property eligibility offers valuable insights.
By addressing these restrictions at the beginning, buyers can streamline their search process and avoid potential disappointments later.
"Awareness of the common challenges can significantly change the outlook of HomePath mortgage financing success."
In summary, addressing property condition concerns, market competition, and restrictions on property types lays the groundwork for buyers. Gaining an understanding of these challenges helps in approaching HomePath financing with clarity and preparation.
Financing Alternatives to HomePath
Exploring financing alternatives is crucial for prospective home buyers who find the HomePath mortgage option does not meet their needs or preferences. While HomePath mortgage financing is particularly well-suited for those purchasing Fannie Mae foreclosures, other financing routes may offer additional flexibility or benefits depending on individual circumstances. This section will discuss two primary alternatives: conventional loans and FHA/VA loans. Each option has unique characteristics that appeal to different buyers, and understanding them can enhance one’s ability to make informed financial decisions.
Conventional Loans
Conventional loans are a popular choice among home buyers due to their straightforward terms and conditions. These loans are not insured by the federal government, unlike FHA and VA loans, which means that lenders usually impose stricter credit requirements.
Key Aspects of Conventional Loans:
- Credit Scores: Most lenders prefer a credit score of at least 620, although some may accept lower scores with a higher down payment.
- Down Payments: Buyers can often secure a conventional loan with as low as 3% down, although putting down 20% eliminates the need for private mortgage insurance.
- Interest Rates: Conventional loans typically offer competitive interest rates compared to government-backed loans, particularly for borrowers with strong credit profiles.
Conventional loans appeal to buyers who have a solid credit history and can afford a larger down payment. This option may also work well for homes that do not qualify for other loan types. However, it is vital for buyers to thoroughly assess their financial situation and market conditions before proceeding with one of these loans.
FHA and VA Loans
FHA and VA loans present attractive options for home buyers who may not qualify for conventional loans due to financial constraints or lower credit scores. Both loan types come with specific benefits that can make home purchasing more accessible.
FHA Loans (Federal Housing Administration):
- Down Payment: As low as 3.5%, making it easier for first-time buyers and those with limited savings to enter the market.
- Credit Requirements: The FHA allows lower credit scores, generally down to 580. Those with scores below this may still qualify with a larger down payment.
- Insurance Premiums: Borrowers must pay an upfront mortgage insurance premium, as well as monthly premiums, which can add to overall costs.
VA Loans (Veterans Affairs):
- Eligibility: Exclusively available for veterans, active-duty service members, and certain members of the National Guard and Reserves.
- No Down Payment: Most VA loans do not require a down payment or private mortgage insurance, making them very cost-effective.
- Competitive Interest Rates: VA loans often have lower interest rates than conventional loans due to governmental backing.
In summary, both FHA and VA loans provide viable pathways for buyers who may encounter obstacles with traditional financing. Evaluating these alternatives will allow individuals to make a well-informed decision based on their financial goals and personal circumstances.
Quote: "Understanding your financing options is key to finding the best solution for your home buying needs. Each loan type has unique benefits that may align better with your situation."
Long-Term Financial Implications
Understanding the long-term financial implications of HomePath mortgage financing is crucial for prospective buyers. This involves more than just the immediate costs and savings associated with purchasing a home. It encompasses the broader financial landscape that influences one's financial health over an extended period. By grasping these implications, potential homeowners can make better-informed decisions that align with their financial goals.
Impact on Credit Score
Buying a property through HomePath financing can significantly affect your credit score over time. A notable factor in this is the mortgage payments you will be making.
- Timely Payments: Making consistent and timely mortgage payments is essential. This positive behavior can enhance your credit score, showcasing your reliability as a borrower. In many cases, individuals see an increase in their credit scores after maintaining a history of on-time payments for several years.
- Debt-to-Income Ratio: It is also important to monitor your debt-to-income ratio. A higher mortgage payment can shift this ratio unfavorably if not managed carefully.
"A stable payment history is a critical piece of the puzzle that can lead to a stronger credit profile over the long term."
Future Home Equity Opportunities
Home equity represents a powerful financial resource for many homeowners. With HomePath mortgage financing, there are unique opportunities to build equity in your property over time.
- Appreciation of Property Value: As the housing market fluctuates, the value of your HomePath property may increase. This property appreciation is beneficial because you can tap into this equity later. A rise in value may allow refinancing options or the ability to take out home equity loans for other financial needs.
- Renovation and Improvement Suggestions: HomePath properties often need repairs or renovations. The financing option enables buyers to make these improvements. By doing so, you not only enhance your living environment but also potentially increase the property's value, hence building more equity.
In summary, HomePath financing can offer pathways to significant equity over time, allowing homeowners to leverage their investments for future financial needs, such as education, retirement, or other major purchases.
By staying informed and keeping track of your financial status, you can cultivate a sound strategy that positions you well for the future.
Strategic Considerations for Prospective Buyers
Understanding strategic considerations is critical for anyone interested in HomePath mortgage financing. This approach allows potential homeowners to make informed decisions. The process requires a blend of research, financial acumen, and awareness of market trends.
Assessing Market Conditions
Market conditions significantly influence the success of a HomePath investment. When evaluating these conditions, prospective buyers should focus on the following aspects:
- Local Real Estate Trends: Look at property values in the area. Understanding whether prices are rising or falling can indicate the potential for home equity growth over time.
- Supply and Demand: A saturated market can lead to more competition, making it harder to secure a desirable property. Conversely, areas with fewer listings might present opportunities.
- Economic Indicators: Employment rates and overall economic health can affect buyers’ ability to secure financing and the long-term value of property.
By keeping an eye on these factors, buyers can better position themselves during the purchase process. Timing can be crucial, especially in fluctuating markets.
Evaluating Personal Financial Situations
Before entering into HomePath financing, one must accurately assess their financial situation. This self-evaluation enables buyers to understand their strengths and weaknesses effectively. Here are some key considerations:
- Credit Score: A higher credit score usually results in better mortgage terms. Knowing your score allows you to make necessary adjustments beforehand.
- Income Stability: Ensure that your income is stable enough to cover monthly payments and other expenses. Proof of consistent income is essential for loan approval.
- Debt-to-Income Ratio: Assess how much of your monthly income goes towards existing debt. A lower ratio is favorable for obtaining financing.
- Savings for Down Payments and Closing Costs: Aside from the mortgage, it is crucial to budget for associated costs such as property taxes and insurance.
Leaving no stone unturned in evaluating these financial elements can lead to a smoother mortgage application process.
It is prudent to be realistic about your financial standing before proceeding with HomePath financing. Being well-informed enhances your ability to make sound decisions.
Finale
The conclusion serves as a pivotal point in understanding HomePath mortgage financing. It synthesizes the information discussed throughout the article, emphasizing the significance of informed decision-making in the home buying process.
Weighing the Pros and Cons
When considering HomePath financing, it is crucial for prospective buyers to weigh the benefits against the limitations. One significant advantage is the low down payment requirement compared to traditional mortgages. This aspect can make homeownership more attainable for individuals with limited funds. Access to renovation financing is another plus, allowing buyers to improve the property according to their preferences.
However, there are challenges. The condition of properties may vary significantly, requiring buyers to assess what renovations might be necessary. Additionally, competition for these properties can be high, particularly in desirable areas. Understanding the restrictions on eligible property types is also vital. This balanced perspective helps in determining whether HomePath is the right choice based on personal circumstances.
Making an Informed Decision
Making an informed decision about HomePath financing involves thorough consideration of one’s financial situation and market conditions. Prospective buyers need to evaluate their budget and understand how the mortgage will fit into their overall financial landscape. Research is key. Look into the current housing market trends and evaluate whether investing in a foreclosed property aligns with long-term goals.
Moreover, seeking advice from mortgage professionals is prudent. They can offer personalized insights based on the current economic climate and individual financial health. Ultimately, a careful assessment of the pros and cons alongside financial and personal readiness will allow individuals to make the best choice available to them in the realm of HomePath mortgage financing.
