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Fannie Mae Homepath REOs Allow Other Financing Options
For those looking for options other than FHA, those who don't want to pay PMI (private mortgage insurance) or those tired of having appraisals come in too low and other frustrations in today's mortgage market, there may be another option.
The Fannie Mae Home Path program is solely for Fannie Mae REOs and foreclosures, and it offers a few things other loans don't.
3% down payment - this is less than FHA
Down payment can be gift funds or a grant or non-profit loan
No appraisal is required - meaning the loan won't be turned down for value issues.
Home warranty
3.5% towards closing costs or appliances paid by Fannie Mae - through 6/30/10.
No mortgage insurance.
Does not require perfect credit.
Interested in finding a home that qualifies for Fannie Mae Home Path or a lender who can help you qualify? Please contact Christine Donovan at 714.319.9751.
About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.
Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? For more information see Options to Foreclosures, understanding short sales or contact me at christine@donovanblatt.com to discuss your options.
Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.
Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.
Are you looking to buy or sell your home, vacation, land, or investment property? Contact me Dinah Stallworth, your Natchitoches Realtor for all your real estate needs.
I am experienced in SHORT SALES AND FORECLOSURES SALES. Don't wait connect with me today.
I service Natchitoches, Cloutierville, Montgomery, Many, Coushatta, Saline, Winnfield, and all other surrounding cities in Central & Northwest Louisiana.
4 Comments
on Fannie Mae Homepath REOs Allow Other Financing Options
JUN
13
2010
HomePath is a great option to FHA. There are a number of properties to choose from in most markets.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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4 Comments on Fannie Mae Homepath REOs Allow Other Financing Options
HomePath is a great option to FHA. There are a number of properties to choose from in most markets.
HomePath is awesome! Thanks for post comments.
Dinah - Thank you for reblogging this. I think it's so important in these times for the buyers to be aware of different financing options.
Christine,
I think this is great information. You are welcome!
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