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NATIONAL LENDING PROGRAM FOR BUYING FORECLOSURES, IN ST MARY'S MD TOO

By Margaret C. Taylor

Real Estate Agent with Century 21 New Millennium MD

September 04, 2010 03:57 AM

Do YOU know about this Fannie Mae HomePath NATIONAL LENDING PROGRAM FOR BUYING FORECLOSURES, IN ST MARY'S MD TOO?

Fannie Mae wants to move it's abundance of Foreclosures. In order to transfer these homes to new Homeowners Fannie Mae has created the HomePath program.

The HomePath program is restricted to Fannie Mae owned Foreclosures and Buyers who qualify for the program, both owner-occupants and investors. The basics of Home Path:

Minimal down payments - 3% for owner-occupants and 10% for investors
No requirement for an appraisal unless applying for 'renovation' financing
Seller Contributions allowed up to 6% of the sales price
No requirement for mortgage insurance
Credit score minimum of 660
Maximum loan amounts tied to standard conventional loan limits

These Foreclosures have been inspected by Fannie Mae and are determined to be in "move in condition", although additional money may be included in the loan for "light-moderate" fix ups such as roof and/or heating and air-conditioning repair.

Interest rates are slightly higher than the present conventional or FHA-insured loan rates.

Although these homes may not be in perfect condition they still might be a great deal for YOU.

If YOU are intersted in this NATIONAL LENDING PROGRAM FOR BUYING FORECLOSURES, which are available IN ST MARY'S COUNTY MD, too, or have found one of these houses for sale on line, then YOU need a Buyer's Agent to represent YOU through the process or to help with YOUR search.

CALL OR TEXT MARGARET C: 301 481 8407

Margaret C. Taylor SFR CDRS St Mary's County MD Real Estate Agent Qualified to help you.

Century 21 New Millennium Real Estate Agent, Lexington Park, MD

Serving: Lexington Park, Great Mills, California, Hollywood, Leonardtown, PAX River, Mechanicsville, Charlotte Hall, Piney Point, Valley Lee, Callaway, and surrounding areas, also Calvert and Charles County.

This blog is for informational purposes only and is not intended as legal or tax advice. An Attorney, CPA or other specialist should be consulted for specific needs.