Fannie Mae Homes for Sale in Tucson, AZ
I often show short sales, REO and foreclosed-upon homes, HUD, and Fannie Mae HomePath Program homes to my buyers here in Tucson and Marana, AZ. All come with their own plusses and minuses, and what works with one buyer's criteria may not work for another.
So, it the Fannie Mae Home Path Program good for you? What exactly is a Fannie Mae HomePath Home?
Well, the Home Path Mortage allows buyers a chance for lower down payments, mortgage terms that are flexible, some possibilities in closing cost assistance, and you don't have to purchase a lender-required appraisal or Mortgage Insurance. 97% conventional financing is available, and your down payment can be gifted by a family member. You may purchase a Fannie Mae HomePath Home as a primary residence, investment, or vacation home.
Another plus is the First Look program where homebuyers looking to occupy their home purchase have a chance to make an offer before the investors swoop in! This helps create neighborhood stabilization and here in Tucson, apply to the first 15 days the home is on the market.
The fine print also says a home inspection is not required, but I always, ALWAYS insist my clients do their due dilligence and remember the adage, "Buyer, Beware". Know that many of these homes have deferred maintenance, may need fixing up and remodeling, and might have considerable, unseen damage. You cannot go wrong with a home inspection!
Some things your agent can help you with in regards to a Fannie Mae HomePath Property include watching deposit limits, contract deadlines, agent communication regarding the contract, etc.
The following is a link to the many Fannie Mae HomePath Properties for sale in Tucson, Marana, and surrounding communities in Pima County, AZ today. Please contact me if you'd like more information on whether or not a Fannie Mae HomePath Property might be a good choice for you.