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Why Not Home Possible Advantage?

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Weis1682 | 15 Sep 2016, 10:14 AM Agree 0
Hello all,

It seems like the MI companies and the correspondents our bank uses are really pushing HomeReady, but not Home Possible Advantage. Home Possible Advantage has many more no income limit areas... in fact I haven't found many homes near me that don't qualify for Home Possible Advantage no income limit, but nothing near me qualifies for Home Ready no income limit.

Does anybody know why there's such a bias towards HomeReady? I'd rather go Freddie these days anyways as I'm getting higher ratio approvals on agency FHA, plus the enhancements coming to Home Possible Advantage in October.

I want to start marketing to Realtors that have listings in my area between $250K and $430K and solicit based on the 3% down Home Possible Advantage program, which is why I'm asking this.... nobody seems to know anything about this program... I can't even get a flyer on it.

Thanks in advance,

Chris
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