Home Path Mortgage

Special financing for Fannie Mae-owned properties!

In today’s real estate market, many homes being sold are bank-owned (REO) properties. While some of these homes may need a little extra TLC, they offer many homebuyers the opportunity to purchase a great home at typically a much lower price. In addition, some of these homes allow for special financing programs as with the HomePath Mortgage for Fannie Mae-owned properties. The HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Below are some of the benefits you can expect from a HomePath Mortgage.

Benefits:

Low down payment and flexible mortgage terms (fixed–rate, adjustable rate, or interest–only)
Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
No appraisal required
No mortgage insurance required
6% in seller contributions allowed for closing costs on primary residences
Available for primary residences, second homes and investment properties

Guidelines/Restrictions:

Eligible properties must be owned by Fannie Mae and sold by Fannie Mae
Property must be listed on www.HomePath.com as eligible for HomePath financing
Eligible properties on www.HomePath.com will display this below dual logo:

Special financing for Fannie Mae-owned properties!

Benefits:

Low down payment and flexible mortgage terms (fixed–rate, adjustable rate, or interest–only)
Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
No appraisal required
No mortgage insurance required
6% in seller contributions allowed for closing costs on primary residences
Available for primary residences, second homes and investment properties

Guidelines/Restrictions:

Eligible properties must be owned by Fannie Mae and sold by Fannie Mae
Property must be listed on www.HomePath.com as eligible for HomePath financing
Eligible properties on www.HomePath.com will display this below dual logo: