Monday, June 26, 2006 - What is "Express Path Financing?"

On selected Fannie Mae homes special financing may be available. There are reduced closing costs, an appraisal is not required nor are lender-required repairs. If this financing is offered, the listing agent will publicize that in the MLS comments.  Pre-qualification is required for this financing.  Prospective buyers should call PHH Mortgage Services directly at (866) 366-2736.  See the ExpressPath brochure in the home for additional details and requirements.

ExpressPath—a fast, cost effective way to finance your home designed with YOUR needs in mind.

ExpressPath is brought to you by PHH Mortgage and is available to borrowers purchasing eligible properties for their primary residence.

ExpressPath Benefits for Homebuyers Include:

A Fast and Simple Loan Decision Process . . . allows you to get a loan decision—not merely a pre-qualification —in as few as 20 minutes.

Most importantly, there are NO up-front application fees.

Seller– Paid Closing Cost Assistance . . . reduces the challenges you might face regarding down payment and closing cost requirements.

With ExpressPath, a property appraisal* is not required and the seller will pay the borrower's closing costs, excluding pre-paids. A PHH loan consultant can provide you with details.

Lender Service Guarantees . . . PHH Mortgage provides ExpressPath borrowers with outstanding service guarantees to give you the confidence your loan decision is the right one. Guarantees include Same Day Loan Decision, a $500 Best Price Guarantee**, and a Closing Date Guarantee that reduces your rate by 1/8th of 1% if the closing date is missed***.

Great Service . . . friendly loan consultants are there when you need them. PHH Mortgage has a team of experienced, bilingual loan professionals to assist you with your loan application or answer questions. They are available Monday through Friday from 8:30 a.m. to 8:00 p.m. EST and on Saturday from 8:30 a.m.-5:00 p.m. EST.

Customized Loan Products . . . ExpressPath includes a wide array of fixed- and adjustable-rate mortgage products with competitive pricing and down payment options with borrower contributions as low as $500, and up to 100% financing available for qualified borrowers.

How To Apply

1. Call toll free (866) 366-2736 to speak with a loan consultant

2. Provide a limited set of pertinent financial information about you and any co-borrowers
• Social Security #
• Employment information for last 2 years
• Income (W-2s and Paystubs) and asset information
• Property purchase price
• Requested loan amount

3. Receive your loan decision within minutes