Homepath Renovation financing is new to me, and I would like some answers for my client. My buyer wants to offer on a property that qualifies for the Homepath Renovation Mortgage. Do we offer what we think the property will be worth once the renovation is done, or what it is worth in it's current condition? If we make an offer that is accepted, but find with the appraisal that the value is lower, will FNMAE adjust the accepted price accordingly?
I went to the Homepath.com web site, but they don't answer questions like this.
Any advice you can provide would be a big help!
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