19. April 2011 by Tim Vicsik.

HomePath® Buyer Incentive

Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through June 30, 2011.

The HomePath property buyer must meet the following qualifications to be eligible:
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19. April 2011 by Tim Vicsik.

HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed.

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24. January 2011 by Tim Vicsik.

Don’t qualify for a State or City funded program?  First Federal has the answer.  First Federal will pay all standard closing costs on any First Federal loan product for borrowers who have never owned Real Estate Property.  Read the rest of this entry »

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20. January 2011 by Tim Vicsik.

**Update: Income requirements have changed for the CHC program.  Please contact me for details.**

The mission of Community Homebuyers Corporation (CHC) is to provide affordable mortgage opportunities to first-time homebuyers, with low and moderate income, who wish to become residents of the City of South Bend.  Owning a home is a goal of almost every person, but securing the appropriate financing can be difficult.  With assistance from the Community Homebuyers Corporation (CHC) you or Read the rest of this entry »

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13. May 2010 by Tim Vicsik.

From the desk of:
Maribeth Roncz
Loan Officer
First Federal Savings Bank  
906 W Edison Rd. Mishawaka, IN 46545 

Borrower Checklist

Actually, no documents are required from you at the time of application.  But to speed up the loan processing time, you can prepare for the application appointment by providing the following information:

• List of all previous addresses for the past 2 years
• Social Security Number(s)
• Divorce decree, if applicable

Income Verification

• W-2 forms for the previous 2 years
• Employment information for the previous two years including name, address, and phone number
• Copy of most recent pay stub(s) for one month
• Award letter for Social Security, and 1099 for disability income
• If rental income, commission, interest, or income other than salary, tax returns may be required
• If Child Support/Alimony a court printout showing 12 months history
• If Self-Employed a signed completed tax return for the past 2 years, including personal, partnership and corporate if applicable and all schedules. Also, a Business profit and loss statement year-to-date for current year if more than three months have passed since the end of the tax year

Asset/Liability Information

• Copy of bank statements for the previous 2 months, including savings, checking and investment accounts
• Stock and securities account statements for the previous 2 months
• HUD settlement statement if using funds from the sale of property for down payment
• List of other assets including life insurance, retirement funds, automobiles, etc.
• List of all open credit accounts, i.e. charge accounts, open loans including account numbers, payment amounts and balances
• Account number, name and address of current mortgage holder or landlord
• List of all real estate owned including property address, market value, outstanding liens, rental income, mortgage payment, etc.

Property Information

• Signed purchase agreement including legal description
• If new construction - year land/lot acquired, original cost of land/lot, amount owed on land/lot, and a signed Contract
• If refinance - year property acquired, original cost of home, cost of improvements, amount owed on property, and description of improvements

An application deposit will be requested at time of application. This non-refundable deposit will be applied toward closing costs.

| **Buy a Home** | **Buy a Condo** |

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