Homepath Mortgage Loan Program

home loan products

 

What is Homepath?

Homepath is Fannie Mae’s (FNMA), loan product for properties that FNMA acquired through bank foreclosure, deed in lieu of foreclosure, or forfeiture. Homepath properties are sold in as-is condition and are not covered under any warranty. 

home loan products

The regular HomePath mortgage is originally designed for people who are planning on making the property their primary residence. The program now allows for investment purchases as well.  You will often see homes that are eligible for this with the logo seen above somewhere on the sales sheets and information about the HomePath program will usually be in the remarks section of the MLS.

HomePath mortgage financing benefits include:

  • Low down payment and flexible mortgage terms 
  • You may qualify even if your credit is less than perfect
  • Available to both owner occupiers and investors
  • Down payment (minimum of 3%) can come from your own savings, a gift, a grant, or even a loan from a nonprofit organization, state or local government, or employer
  • No mortgage insurance (PMI)
  • No appraisal fees (No Lender appraisal required)
  • No declining markets policy
  • No more than 10 financed properties
  • No prepayment penalties
  • No condo review or approval is required

home loan products

The HomePath renovation mortgage is for people who are planning on buying a home that is currently owned by Fannie Mae, making it their primary residence and the home is in need of a few repairs. You will often see homes that are eligible for this program with the above logo on the sales sheets and will usually find more information in the remarks section of the MLS.

HomePath Renovation mortgages have these benefits:

  • Financing to fund both your purchase and light renovation
  • Low down payment and flexible mortgage terms 
  • Down payment (minimum of 3%) can come from your own savings, a gift, a grant, or even a loan from a nonprofit organization, state or local government, or employer
  • No mortgage insurance

 

If you are considering buying a home that is currently owned by Fannie Mae, be sure to look into the HomePath mortgage financing program.  In an effort to lower the inventory of houses they currently own, some of the best deals in a long time can now be had! We are happy to help you with your HomePath mortgage financing, call us to find out more details.

Be Smart … Ask Questions … Get Answers!

For more information, call (954) 599-3432 or “Click Here” to send me a message by e-mail

“Click Here” Get Started with your Loan Request

 

To learn about the advantages of being pre-quaified “Click Here”

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