FHA vs HomePath financing
Is there a significant difference?
We are looking at a home owned by Fannie Mae that states it is approved for a HomePath and/or HomePath renovation loan. We were originally in contract with another property using a FHA 203 streamline loan, but thanks to a nightmare of a realtor(and our blind faith), we lost that one. Our broker is re running our pre approval for this new home but is running everything based on FHA criteria.
Will this make a difference in the long run? Or is getting the pre approval at this time what matters most?