Breaking News Fannie Mae announced HomePath Financing Changes.
Fannie Mae announced that HomePath Mortgage which is currently available to low to middle income first time buyers will be allowing Investor financing to purchase Fannie Mae owned properties.
This new Mortgage Product will allow eligible individual and LLC borrowers to finance up to 20 properties using the Homepath Mortgage products.
Fannie Mae will offer flexible terms as well as they will not require appraisals
HomePath Renovation Mortgage is also available and will allow a buyer to purchase a property that requires light to moderate renovation. The one loan amount includes both the funds for the purchase and the renovation. Basically up to 35% of the completed value, but no more than $35,000. This will be available for owner occupied borrowers as well as investors.
The First look incentive will allow owner occupants and nonprofit organizations the first fifteen days to purchase the property. If the First Look buyers do not buy the property, than Fannie Mae will open it to investors to have the opportunity to purchase the property
. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, Brentwood, Bel Air, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at310.486.1002or email me at homes@endrebarath.comor visit one of my websites athttp://www.endrebarath.comYour Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.
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