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

http://www.homepath.com/

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.

Endre Barath, HomePath Realtor

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.

 

 

 
This post has been included in California Real Estate News Los Angeles County, CA Real Estate News Los Angeles, CA Real Estate News Baldwin Hills (Los Angeles, CA) Real Estate News
Post is included in group: Everything California
Post is included in group: Mortgage Bankers
Post is included in group: Local Expert
Post is included in group: BananaTude
Post is included in group: ActiveRain Library Station

34 Comments on Breaking News: Fannie Mae announced HomePath Financing Changes!

20 Most Recent Comments Displayed Show All

SEP
23
707,637 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Joy, we are in Boston,MA:)) came back from the Restaurant and I was checking my sources, hence noticed and had to share:))

Dick, I agree partially on the other hand there are a few investors who can fix a gutted Condominium or  an average home for close to that amount at their cost....
7:33am • #15
707,637 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Lucas my pleasure:)

Harry I agree because as Dick mentioned the average first time buyer could not freshen up a property for under $35k, you need seasoned investors with their own crews to make it work.

Charlie, what I heard was, once a Listing comes on the Market they will have an automatic Time Clock on it and you can check the HomePath website (I included here in the post)...once the clock reaches 15 days, than Investors can submit  offers on properties they are interested in. I am sure they will be monitoring the desired properties closely and call their agents to submit an offer as soon as permitted.
7:39am • #16
159,270 Points 3 Featured Posts Outside Blog

Hello Enbre,

Thanks for sharing... I hope it will be easy enough to do.

Have a great day.
8:21am • #17
395,891 Points 5 Featured Posts Outside Blog Attended Rain Camp

Endre, thanks for highlighting it.  I somehow missed this news releasae.  It will be most helpful, and hopefully it will contribute to a recovering housing market.
9:10am • #18
1,125,545 Points 90 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

In this market it's silly to try to close investors out of the picture.
11:50am • #19
306,123 Points 6 Featured Posts

Congrats on the feature Endre!  This is some good lender info for investors.  Hope you get some investor hits off this great blog post!
11:54am • #20
430,477 Points 1 Featured Post

This is such good news.. Thanks for sharing and I will do further research..

 
3:32pm • #21
877,048 Points 48 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Thanks! I have an agent in my office that will be especially happy to hear this. I will share it with her! :)))
7:13pm • #22
872,258 Points 47 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Endre, this is very exciting news for a group of buyers who want to invest in this market but have not had favorable financing.

Sharon
7:18pm • #23
1,351,912 Points 42 Featured Posts Outside Blog Attended Rain Camp Called Shot Master
Endre - Some of these changes could be a good thing for both the buyers and the market.
9:18pm • #24
859,452 Points 8 Featured Posts Outside Blog Called Shot Master

Endre, it's about time Fannie Mae realized how much investors dominate the market! :)

Leilani
11:56pm • #25
SEP
24
472,973 Points 12 Featured Posts Attended Rain Camp Called Shot Master

Endre, hopefully this will have a dramatic effect on the housing market.
12:45am • #26
Localism Sponsor Outside Blog

Endre, thanks for the update...investors can find great deals with Fannie Mae HomePath properties and being able to use HomePath financing opposed to Hard Money or Private Money makes the Fannie properties great investments.
8:01am • #27
707,637 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Tatyana, I am sure it will not be too difficult!

Gary glad you discovered it and I am positive it will be good for all

 Erica, I am so with you on your observations.

Jennifer thank you for the kind words and may they be prophetic!
11:41pm • #28
SEP
25
775,708 Points 16 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Endre, I'm sure there's going to be some paperwork to get through, but I think it's going to turn out to be a good idea for some of those homes that have been sitting a long while...or homes that require more work that maybe only an investor is willing to take on.  Congrats on the little gold star!
1:25pm • #29
1,156,274 Points 29 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Endre sound like these changes could be helpful, time will tell.
9:49pm • #30
SEP
26
707,637 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Nick, yes it is a great idea to move the ones that have been there a long time, best part is now the investors can actually jump in vs. before they were sidelined for lack of incentives.

Jennifer it will be helpful without a doubt provided they do not create a paper quagmire for investors!
8:03am • #31
300,450 Points

I would think this will mork to unload a lot of the properties out there. Thanks for enlightening us.
8:11pm • #32
SEP
30
795,614 Points 5 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Thanks for keeping us updated on these changes with HomePath.
1:23pm • #34
707,637 Points 47 Featured Posts Localism Sponsor Outside Blog Called Shot Master

 Charles we can all benefit if they get rid of the inventory that has been sitting around for a while!

Michelle my pleasure!
1:27pm • #35

20 Most Recent Comments Displayed Show All


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 
Barathheadshot2color Rainmaker_large

Endre Barath,Jr. Realtor Los Angeles Home Sales 310.486.1002

Beverly Hills, CA

More about me…

Beverly Hills,CA. Prudential California Realty

Address: Attn: Endre Barath,Jr., 9696 Wilshire Blvd., Beverly Hills, CA, 90210

Office Phone: (310) 248-6473

Cell Phone: (310) 486-1002

Email Me


Real Estate blogs


Listings

Links

Archives

RSS 2.0 Feed for this blog