HomePath Mortgage Loans
The Fannie Mae Home Path financing program is designed to help potential buyers buy a home that is currently owned by Fannie Mae by giving them a great deal on the HomePath mortgage financing package.
HomePath Mortgage Financing: Popular In Arizona
The regular HomePath mortgage is designed for people who are planning on making the property their primary residence. 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 (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
- 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
- No mortgage insurance
- No appraisal fees
- No declining markets policy
- No more than 10 financed properties
- No prepayment penalties
HomePath Renovation Mortgage
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 (fixed-rate or adjustable-rate)
- Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit, 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! The best way to get a great deal is to speak with a lender who can help you with the homepath programs today. Here are just a few lenders who are updating their rates daily – shop multiple lenders to get the best possible deal.