HomePath Special program for Purchasing a Fannie Mae-Owned Property
We Process, Underwrite and Fund HomePath in-house. This special financing is available on Fannie Mae homes with the following logo:
HomePath mortgage financing benefits include:
* Low down payment 3% down Primary 10% down Second Home and Investment. Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
* flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)
* You may qualify even if your credit is less than perfect
* Available to both owner occupiers and investors
* No mortgage insurance. With no PMI you could save yourself a few hundred dollars with a HomePath loan.
* No appraisal fees
* No declining markets policy
* No prepayment penalties.
* Eligible Property Types 1-4-unit properties, Planned unit developments, Condominiums
* 30 Day close on HomePath is not a problem because we Process, Underwrite and Fund HomePath in-house.
* First Look period contributes to neighborhood stabilization by encouraging home ownership. During this period, owner occupants, public entities, and their partners can submit offers and purchase properties without competition from investor offers. The First Look period is typically the first 15 days a property is listed on HomePath.com. Properties within the First Look period now include a countdown clock on the property details page, which displays the number of days remaining for owner occupants and public entities to submit offers. If the property remains available for sale after the expiration of the First Look period, investor offers may be submitted and will be considered along with all other offers.