Buy an Alabama Second / Vacation with as little as 10% down. Fannie Mae's HomePath® mortgage program is specifically for Fannie Mae REO properties. Prospect Mortgage is pleased to be the nation's largest retail HomePath® mortgage lender. Only a handful of lenders nationwide were selected to participate in Fannie Mae's special financing program.
HomePath® Financing Highlights
- Low down payment and fixed rate mortgage terms (30 & 15 Yr fixed-rate options)
- Up to 90% financing for Second / Vacation home for up to 4 financed properties
- Borrowers purchasing a Second / Vacation home with maximum 75% LTV/CLTV can own up to 10 financed properties
- No mortgage insurance option (over 80% LTV requires a 660 credit score and additional fee)
- No appraisal fees (Sales price is used to determine value)
- 1 to 4, condos, and PUD's are all eligible (No manufactures housing or condotels allowed)
This special financing is available exclusively on Fannie Mae homes with the HomePath® logo. Fannie Mae has properties available all over 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.
Start your search today for Fannie Mae REO's. Visit http://reosearch.fanniemae.com/reosearch/.