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HomePath Renovation Loans for Virginia, Maryland and Washington, DC
As the nation has went through the housing boom and moved into the housing bust – no organization currently owns more homes than Fannie Mae. To help drive demand for home buyers to want to buy this inventory, Fannie Mae has come out with a special financing program called HomePath Renovation Mortgage Financing where people who buy homes currently owned by Fannie Mae and include renovation of the prooperty into one mortgage loan .
HomePath Renovation Mortgage Loans When a property goes into foreclosure and is given back to the lender, it is common for it to need a few repairs. For homes in this condition, Fannie Mae developed a special financing program called the HomePath Renovation mortgage loan and is available only for people who want to occupy a property as a primary residence or investors.
Homepath Renovation Loan Benefits
Just a few of the benefits of the HomePath Renovation mortgage loan program include:
Financing to fund both your purchase and light renovation Low down payment and flexible mortgage terms (fixed-rate or adjustable-rate) Down payment (at least 5 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit, state or local government, or employer Mortgage ... more
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