What is Homepath Mortgage Financing?

By
Real Estate Agent with The Residential Group

With the housing market looking up, believe it or not people are still looking for foreclosures. Everyone is looking for a "Great Deal".

For those looking for great deals Homepath Mortgage Financing bears some investigation. This is a specific loan for Fannie Mae homes. One of the perks of this type of loan is it is available to both homeowners and investors. There is also at least a 3% down payment required that can be a gift; funded from your own savings; a grant or loan from a non-profit, state or local government or employer.

If a first time home buyer takes advantage of the first time home buyer tax credit of $8000 and purchases a home that qualifies for Homepath Financing they could come out ahead of the game.

Fannie Mae home

This home in Hope Mills, NC qualifies for Homepath Financing. It is just one example of what is available in and around the Fayetteville and Fort Bragg area. My partner Dee and I provide foreclosure education seminars and we run across deals like this sparingly.

Homepath Financing combined with the first time home buyer's tax credit could provide some family with a lovely home. Some repairs can also be included in the Homepath Financing. So on a final note, if you are in the market for foreclosed homes Homepath Financing could be the key to open the door to your new home.

Comments (2)

Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I've recently checked out the financing and it seems like an ok program. Interest rate was a little higher than FHA at that time.  Offered a home warranty plan and a few other goodies for a nice package.

Aug 25, 2009 08:47 AM
Anonymous
Brian McKay

Hi Lisa,

 I see you are using our mortgage rates widget on your website but it's not displaying correctly. I see some of the code is missing, we'll be glad to help you get it working on your site, feel free to contact me.

Regards,

Brian McKay

monitorbankrates.com

Sep 05, 2009 03:31 AM
#2