Do you want to make an offer on a Bank Owned property but you've been told that the Bank is only offering "cash out" or "conventional" financing? Despair not! There's a new product in town.
Fannie Mae is now offering a great alternative to FHA financing for all of those properties that may or may not pass the rigid appraisal standards of an FHA loan. Not to mention, far more competitive in the down payment arena as well.
HomePath financing allows for up to 97% loan to value--which means that you only need a 3% down payment, versus the 3.5% down payment required for an FHA loan. Not only is the down payment less expensive, there is NO mortgage insurance, and NO appraisal fee--yes, you read correctly!
For more information about HomePath financing, or any other financing options, contact metoday and I'll put you in touch with my Lender partner. Let's get started on the Path to home ownership today!
*edited to take Freddie Mac out of the equation. Fannie Mae product only
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