Fannie Mae First Look Initiative - The Owner Occupant Advantage

Mortgage and Lending with Guaranteed Rate NMLS# 2611 NMLS #151088

Buyers.....tired of submitting offer after offer after offer, only to lose out to a cash offers from investor buyers?  Well, relief is on the way for Fannie Mae REO properties.

"First Look is designed to provide owner occupants and buyers using public funds a "first look" at Fannie Mae homes. Under First Look, Fannie Mae will only consider offers from owner occupants and buyers using public funds during the first 15 days a property is listed in the local multiple listing service (MLS). If the property is still for sale on the 16th day, investor offers may be submitted and will be considered.  Ask a Fannie Mae listing broker for more information."

Fannie Mae-owned properties listed for sale can be found at  For more information on HomePath financing options, please call (404) 591-2453 or email


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It is always advisable to consult with a knowledgeable lending professional when navigating today's turbulent mortgage and real estate marketplace.  I am committed, qualified and equipped to help you evaluate your options!


Also check out:

Conventional Financing Mortgage Program Overview/Updates

FHA Financing Mortgage Program Overview/Updates

USDA Financing Mortgage Program Updates  


Programs Include:


  • Conventional (Fannie Mae & Freddie Mac)

  • FHA, USDA, & VA

  • Jumbo to $3,000,000

  • Bank Statement Program for Self-Employed Borrowers

  • Foreign National Program

  • Investor Cash Flow

  • Non-Warrantable Condos

  • Georgia Power Leaseholds for Lake Burton, Rabun, & Seed


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  • Rodney Mason is a Licensed Branch Manager located in Atlanta, GA.   He can be reached at (404) 591-2453.
  • Providing financing for all cities across Georgia including: Acworth, Albany, Alpharetta, Athens, Atlanta, Augusta, Austell, Avondale Estates, Blairsville, Bloomingdale, Blue Ridge, Bogart, Brunswick, Buckhead, Buford, Canton, Carrollton, Cartersville, Chatsworth, Clayton, College Park, Columbus, Commerce, Conyers, Covington, Cumming, Dahlonega,  Dacula, Dalton, Dawsonville, Decatur, Doraville, Douglasville, Duluth, Dunwoody, East Point, Fayetteville, Flowery Branch, Gainesville, Greensboro, Hampton,  Hapeville, Hinesville, Hiram, Jackson, Jefferson, Jonesboro, Kennesaw, Lagrange, Lawrenceville, Lilburn, Lithia Springs, Macon, Madison, Metter, Morganton, Morrow, Newnan, Norcross, Oakwood, Peachtree City, Pooler, Richmond Hill, Riverdale, Rome, Roswell, Sandy Springs, Savannah, Scottdale, Statesboro, Stockbridge, Stone Mountain, St Marys, Sugar Hill, Suwanee, Thomasville, Thunderbolt, Tucker, Tybee Island, Valdosta, Waleska, Warner Robins, Waycross, Wilmington Island, Winder, Woodstock, and many more.

    Providing financing for all cities across Alabama including:
    Alabama Port, Anniston, Athens, Auburn, Bessemer, Birmingham, Boaz, Bridgeport, Cedar Bluff, Chickasaw, Clayton, Coden, Dauphin Island, Decatur, Dothan, Eufaula, Fairfield, Fairhope, Florence, Foley, Forestdale, Fort Morgan, Fort Payne,Gasden, Grand Bay, Gulf Shores, Heron Bay, Homewood, Hoover, Jasper, Josephine, Madison, Meadowbrook, Midfield, Mobile, Mon Louis, New Hope, Orange Beach, Oxford, Oyster Bay, Phenix City, Prichard, Rainbow City, Saraland, Satsuma, Scottsboro, Selma, Troy, Theodore, Tillmans Corner, Trussville, Tuscaloosa, Vestavia Hills, Warrior and many more.

  • Providing financing for all cities across Florida including: Altamonte Springs, Atlantic Beach, Boca Raton, Bradenton, Cape Coral, Clearwater, Coral Springs, Daytona Beach, Delray Beach, Destin, Fort Lauderdale, Fort Myers, Fort Walton Beach, Gainesville, Hollywood, Homestead, Jacksonville, Jupiter, Key Largo, Key West, Lake City, Largo, Marathon, Mexico Beach, Miami, Naples, New Smyra Beach, Ocala, Orlando, Palm Coast, Panama City Beach, Pensacola, Pompano Beach, Port St Joe, Sanibel Island, Sanford, Sarasota, St Augustine, St Petersburg, Tallahassee, Tampa, Vero Beach, West Palm Beach, & Winter Park, and many more.


  • Providing financing for all cities across South Carolina including: Aiken, Anderson, Beaufort, Bluffton, Charleston, Columbia, Conway, Edisto Island, Florence, Greenville, Hilton Head, Johns Island, Myrtle Beach, North Augusta, Orangeburg, Rock, Hill, Spartanburg, Sullivans Island, Summerville, and many more.  

    Providing financing for all cities across Tennessee including: Athens, Brentwood, Bristol, Chattanooga, Clarksville, Cleveland, Cookeville, Dyersburg, Franklin, Gatlinburg, Greeneville, Johnson City, Kingsport, Knoxville, Maryville, Memphis, Morristown, Murfreesboro, Nashville, Newport, Oak Ridge, Pigeon Forge, Sevierville, and many more


All mortgage lending guidelines are accurate at time of post, but are subject to change without notice.  Please call for the most current information.




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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hi Rodney,

Thanks for sharing a very good blog. I learn a lot from Active Rain family.


Jan 30, 2010 10:53 AM #1
Rodney Mason
Guaranteed Rate NMLS# 2611 - Atlanta, GA
VP of Mortgage Lending - AL, FL, GA, SC, & TN

John, I'm glad you are able to get some useful info from AR.

Jan 31, 2010 02:10 AM #2
Mark Ruda
Mark A Ruda - Fox River Grove, IL

Sounds like ... HUD.  Other than the possibility of two years in prison and a $250,000 fine, what's stopping an investor from posing as an owner-occupant cash buyer?

Jan 31, 2010 05:29 AM #3
Rodney Mason
Guaranteed Rate NMLS# 2611 - Atlanta, GA
VP of Mortgage Lending - AL, FL, GA, SC, & TN

We can only hope that the penalties involved with fraud will prevent non-occupancy buyers from obtaining properties under false pretenses.  Occupancy after closing can be verified if Fannie, Freddie, HUD, etc wish to do so.

Jan 31, 2010 07:57 AM #4

Husband and I have put in offer on First Look Home here in TN.   We offered asking price plus a few things to be fixed.  Have gone FHA with lender up here ( no paperwork signed yet) but just wondering if it would be better to go homepath financing.  Our agent said that maybe we would here something by Tuesday.  Asking price is 74,900 what would our payments be thru homepath.  Please include everything(mortgage,insurance,out of pocket expense.  We have asked that closing cost be paid by seller.

Aug 14, 2010 12:23 PM #5
Rodney Mason
Guaranteed Rate NMLS# 2611 - Atlanta, GA
VP of Mortgage Lending - AL, FL, GA, SC, & TN

Martha....It depends on the specific situation as to whether FHA or HomePath would be the better financing option.

Aug 21, 2010 11:19 AM #6
Mike Glastonbury
Deep Creek Realty - Punta Gorda, FL

My client is buying through her trust, she is the only beneficiary, her father is the only trustee. She has no signing powers on the trust. She will be residing in the house. Fannie Mae sees this as an investor offer. On what do they base this? What if it were a situation where the trust had more than one trustee? Why do they accept trustees as owner occupants and not the owner /beneficiary of the trust?

Oct 31, 2010 05:24 AM #7
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VP of Mortgage Lending - AL, FL, GA, SC, & TN
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