Is the Fannie Mae Home Path Program Good For Buyers?
Jerry Newman has done a great job explaining the Fannie Mae Home Path program. And it represents a great opportunity for buyers especially first time buyers. What better time to buy a home when prices and below long term trends and interest rates at all time record lows. With rents increasing in most areas, now is the time to lock in your interest rate and cost of your home!
Is the Fannie Mae Home Path Program Good for Buyers?
Yes, when you consider that the Home Path Mortgage allows a borrower to purchase a Fannie Mae owned property with a low down payment, flexible mortgage terms, No lender-required appraisal, and No Mortgage Insurance, and even some expanded seller contributions to assist with closing costs are allowed too.Buyers may even want to take advantage of Fannie Mae’s New Innovative, “First Look” Program. The “First Look” marketing period was created to promote home ownership and to contribute to neighborhood stabilization, which allows home buyers to bid and to purchase foreclosed properties before investors. In most states the “First Look” period is the first 15 days on the market. Look for this First Look sign on the Fannie Mae Home Path website.
Buyers may choose 97% conventional financing, and the 3% down payment can be gifted or grant funds. Keep in mind there is No PMI, and No Appraisal, since the Sales price equals the value. Fannie Mae’s foreclosed properties are available as primary residences, second homes, and investment properties. Many condo project requirements are waived. These Home Path properties offer flexibility and opportunities to save some money. So why not take a look at some of them today?
For More Information on the Fannie Mae Home Path Program, contact Jerry Today, who will connect you with some Preferred Fannie Mae Home Path Lenders. For a list of available foreclosed properties in the San Antonio, TX area, see Bexar County Fannie Mae REO Homes For Sale. Your Local San Antonio Agent will be glad to assist you in placing your online Bid for any of these Fannie Mae Foreclosed Homes.If you are in the San Antonio area, and you are thinking about buying, selling or renting, Contact your Local San Antonio Real Estate Agent, or visit my website at Homes For Sale in San Antonio.
Jerry Newman, REALTOR®
US Army Retired
Keller Williams Realty
San Antonio, Texas
Direct - (210-789-4216
Fax Line (210) 696-9981
Each Office is Independently Owned and Operated
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