Kinecta Federal Credit Union Offers HomePath™ Mortgages With New Incentives

Wholesale lender offers special financing for Fannie Mae-owned properties

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Jun 28, 2011, 02:17 ET

MANHATTAN BEACH, Calif., June 28, 2011 /PRNewswire/ -- Kinecta Federal Credit Union recently announced that it is now providing its brokers and business partners with HomePath(1) mortgages from Fannie Mae that include additional incentives.

HomePath is a Fannie Mae product that offers special financing terms for the purchase of select Fannie Mae-owned properties across the nation. Only a few lenders in the U.S. are approved by Fannie Mae to provide HomePath mortgages. Currently, Kinecta is the only approved credit union in California and one of only five in the nation.

As attractive as the HomePath Mortgage terms are, Fannie Mae is also offering additional incentives. A 3.5% closing cost incentive and $1200 bonus to the selling agent(2) is currently being offered. These incentives will be valid from June 14, 2011 through October 31, 2011.

"Kinecta is constantly looking for ways to offer more affordable financing options to potential homeowners," said Brian Robinett, Senior Vice President and Chief Credit Officer, Kinecta Federal Credit Union. "With HomePath, our business partners can offer borrowers special financing terms on single-family homes, condominiums and town houses in a variety of neighborhoods. It's a great option for virtually anyone looking for a home, from first-time homebuyers to experienced investors." Locating approved properties is as simple as going online and searching through the nationwide database at www.HomePath.com.

For more information, interested brokers and Kinecta business partners can call 800.854.4600, visit www.LoanKinection.com/HomePath or email [email protected].

(1) HomePath is a registered trademark of Fannie Mae.

(2) $1200 bonus available to selling agents who represent an owner occupant and meet the same eligibility criteria.

Kinecta Federal Credit Union is one of the nation's largest credit unions, with approximately $3.5 billion in assets and more than 220,000 members nationwide. Headquartered in Manhattan Beach, Calif., Kinecta offers its members a full range of financial products through the Credit Union and its subsidiaries, Kinecta Financial & Insurance Services, Apollo Insurance Services, and Kinecta Alternative Financial Solutions, dba Nix Check Cashing. Kinecta Federal Credit Union is a not-for-profit, financial cooperative that is solely owned by its members. For more information about Kinecta's Wholesale Mortgage Lending division, visit www.LoanKinection.com.

Media Contact:
Angelica Urquijo
310.643.2401
[email protected]

SOURCE Kinecta Federal Credit Union