Fannie Mae HomePath Loans – Another great method of financing

Mortgage and Lending with Social Media - Infinity Home Mortgage Company, Inc

purchasing cheaper homes by using the Fannie Mae HomePath program - from istockphoto


Fannie Mae HomePath Loan Program – Another great method of financing

With so many types of financing options, not all are discussed by loan officers. Many loan officers don't know much about such programs as USDA, The Fannie Mae HomePath, or My Community. The HomePath program is not known by many and is underutilized. Not only does it allow you to put 3 percent down with no MI, monthly mortgage insurance, but that you can get very good homes at discounted prices.


Highlights of the Home Path Program

  • Minimum of 3 percent down
  • Down payment can come from borrowers own funds, gift, grant, special loan programs from local or state government, loan from a non-profit, or employer
  • No appraisal is required – Property sold ”As Is” –  I personally suggest a home inspection
  • No monthly mortgage insurance
  • Maximum of 6 percent seller help on primary residences. Sometimes Fannie Mae will list a home with a 3.5 percent seller help incentive if closed by a certain date.
  • Primary, Second, and Investment homes allowed under this program. Down payment requirements can change.
  • Eligible Properties – 1 to 4 unit, PUDs, site condos (low rise condo or building type of detached – Doc #6122) – The property must be designated by Fannie Mae on their web site : HomePath
  • Minimum credit score of 660 for 3 percent down. 620 scores allowed if putting 20 percent down or for 2 unit purchases.
  • Maximum Loan Amounts – High balance loans allowed based on the Fannie Mae high balance product (Doc#5346)
  • HomePath has a renovation program. The property must be designated with a renovation logo on Fannie Mae’s HomePath site to be eligible.
  • Title Services – Not required to use Fannie Mae’s title services – Subject to the terms of the contract

Summary – The major highlight of this program is that you can put down as little as 3 percent and have no monthly mortgage insurance. One needs to keep in mind that Fannie Mae doesn’t fix all the properties up, that they are sold “As Is”. And I would recommend getting a home inspection. 

One thing that does need to be recognized is that these home prices are not negotiable. The reason being is that Fannie Mae has already discounted these homes, some of which are being sold for much less. The main reason is that these are homes that have foreclosed upon that Fannie Mae is holding on their books, and want to get rid of them as quickly as possible.  Lastly, these homes can be found on Fannie Mae’s web site, Fannie Mae HomePath homes


Find a Fannie Mae home now – Click HomePath homes

Realtors can sell Fannie Mae REOs. Become a FNMA approved listing agent – Click here   

Realtors Resource page for selling/buying – Click here


Realtors... would love to hear your opinions if you have had a buyer use this program.... and how did commissions work for you? Listing agent? Selling agent?


Posted by




follow Jeff Belonger on Twitter


The FHA Expert's fan page on Facebook     Add Jeff Belonger to your network @ LinkedIN

                                                                            FOLLOW ME ON FACEBOOK



- FHA Loans - USDA Loans - VA Loans -

- Energy Efficient Mortgages - 

- Conventional Loans - 203 k loans -

- FHA Home Loans - Mortgages -


Experience & Knowledge at its BEST !!!



Follow me on:

Mortgage Myth Busters



For more information on FHA loans, please go to this link. The FHA Expert

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!



For information about FHA myths & FHA rumors, please read : FHA Myths & Rumors


Copyright © 2011 by Jeff Belonger of Infinity Home Mortgage Company, Inc

Lending / Financial
New Jersey Camden County Cherry Hill
All About Mortgages/Mortgage Networking
The Lounge at Active Rain
POSITIVE ATTITUDE for the Weary Soul
fannie mae homepath
fannie mae homes
no monthly mortgage insurance
3 percent down financing

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ann Nguyen
eXp Realty of California, Inc. - Truckee, CA
Lake Tahoe Truckee Homes For Sale

Thank you Jeff for a great post! I have steered a few clients toward Homepath since they cannot put down more than 3-5%.

Jun 14, 2011 10:06 AM #8
Robert and Lisa Hammerstein -201-315-8618
Keller Williams Valley Realty - Hillsdale, NJ
Bergen County NJ Real Estate

Jeff - An interesting read for sure. I will be looking into this for my customers a bit. Thanks for the post.

Jun 14, 2011 10:39 AM #9
Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

Hey Jeff. Its been a while since I read one of your many very good blogs. Thank you very much for sharing this one with us. I am definitely re-blogging this one. Great post.

Jun 14, 2011 10:57 AM #10
Ray Waisler
Finance of America - Atlanta, GA
NMLS #6621 - Specializing in Jumbo FHA & VA

Jeff, I'm in agreement with you. It is a great product and I wrote a post about it also.  

Jun 14, 2011 11:08 AM #11
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans


HOLLY... . as I mentioned, we can do loans in VA... hope to help you with your brother when he is ready. And my pleasure... I hope this helps many consumers and realtors that aren't familiar with this program. thanks

MARILYN... . glad some realtors mention the type of financing in the MLS. Leslie Ebersole or someone else, was telling me that it can't be listed on the MLS for the first 2 weeks... then it can. And yes, HomePath is not a lender, but a program... so buyers can choose their own lender and even through HomePath's site, showing some of these lenders.

ANN.. . thanks for stopping by and for the compliment. It works if they are buying a Fannie Mae foreclosed home.

ROBERT & LISA... . my pleasure and I hope it helps with business. As I mentioned to a realtor in another post, even as a realtor, right about it locally, using your town in the title and tags... get some business this way.

LANRE.... . a while?  Why have you been waiting?  lol  Seriously, you can either come here or to The FHA Expert - Not just about FHA loans and this is where I post everything first. And thanks fpr the polite compliment and for reblogging this.. and it's good to see you again. Hopefully we'll meet one day soon...

RAY... .thanks and I will search for your post later tonight. thanks for stopping by.  ps.. if I missed anything, if you have anything to add, please don't hesitate. thanks


Jun 14, 2011 11:25 AM #12
Rob Kittle
Kittle Real Estate - Fort Collins, CO
"We Specialize, You Benefit!" -Kittle Real Estate

Beautiful Advantages of the Fannie Mae Home Loan. Buyer's just need a Home Inspection to be sure that they are buying a great home. Find homes that have little or minor fixes so you can have a good deal. Every buyer should take advantage of Fannie Mae programs.

Jun 14, 2011 12:08 PM #13
Ray Waisler
Finance of America - Atlanta, GA
NMLS #6621 - Specializing in Jumbo FHA & VA

Jeff, another great advantage to the program is that most condos do not require a condo questionnaire - save a lot of time and aggravation.

Jun 14, 2011 12:15 PM #14
Carolyn Nelson
Realty One Carolina, LLC - Burlington, NC
Your Triangle to Triad Real Estate Expert!

Does anyone know of the homepath loan officer in Durham/Roxboro, NC area or perhaps Hillsborough, NC? Have friends seeking to by in the area but can't seem to find a reliable lender and one that knows how to stay in touch.

Jun 14, 2011 12:56 PM #15
Melissa Brown
Helen Adams Realty - Charlotte, NC
Realtor - South Charlotte NC Homes for Sale

Jeff, I've seen HomePath loans more often lately - seems like a great program that I would like my buyers to investigate.  Thanks for describing the program so well.

Jun 14, 2011 01:55 PM #16
Maggie McFarland
RE/MAX Pearland - Maggie McFarland - Pearland, TX
Pearland Realtor, Homes for Sale in Pearland Texas

GREAT post! So informatative - no wonder its featured! Thanks for the info!

Jun 14, 2011 01:56 PM #17
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

I still havent worked with a buyer obtaining a homepath loan but the more I learn about it = it seems like such a viable option for the usual ill fated condo certification issues we have here.

Jun 14, 2011 02:44 PM #18
Leilani Souza CRS e-PRO TRC (Granite Bay CA) 916-408-5500
Souza Realty/Roseville-Rocklin-Lincoln-Loomis-Granite Bay-CA - Granite Bay, CA

Jeff, this was a great idea to heighten awareness of the HomePath program by writing about it on your blog...congrats on the feature! :)

Jun 14, 2011 03:46 PM #19
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Jeff- yes when we list any FannieMae foreclosure we put it in the verbage that the consumer sees.

Jun 14, 2011 03:47 PM #20
Lester Wilkins
Blue Water Home Loans NMLS# 166527 - Port Huron, MI

I have closed several of these.  They are very easy to handle and a good deal for the client.  3% down with no mortgage insurance is an appealing deal.  One thing to look out for is that FNMA a lot of times will not pay for the owner's policy of title insurance.  It is a good idea for the buyer to purchase that policy.  Thanks for the post.

Jun 14, 2011 04:17 PM #21
Rosalie Evans
Meritus Group Real Estate - Sioux Falls, SD
The Evans Group, Sioux Falls, SD Homes For Sale

 The Homepath Loan Program is the best and I am not sure why its not more used. When you take out the PMI and allow gift money and lower down payments it sure helps first time home buyers get into a home. Its a shame that there are not more helpful government programs like this.

Jun 14, 2011 04:52 PM #22
Gwen Kelly
Broadmoor Realty, Inc - Long Beach, CA
Long Beach, CA Real Estate

HomePath financing by FannieMae is one of the best loan programs out there, yet many agents resist using it opting for FHA instead.  Thanks for the post; the more agents hear about it the more likely they are to use it.

Jun 14, 2011 07:17 PM #23
Adam Mallory
eBroker Real Estate 619-566-ADAM - San Diego, CA
Broker, ABR, e-Pro

Very nice post Jeff!  Actually, just today I received an email regarding HomePath loans.  It said that for a limited time they are also offering "Up to 3.5% Buyer Assistance".

Jun 14, 2011 07:51 PM #24
Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional
Charles Rutenberg Realty - Clearwater, FL
Palm Harbor, Dunedin, Clearwater, Safety Harbor

Jeff - Great information that needs to get out to our buyers! Thanks for writing a great post which I am now going to reblog for my clients!

Jun 15, 2011 02:05 AM #25
Michael Ajemian
Rapid Realty - Brooklyn, NY

Timely and helpful article.  Thanks Jeff!

Jun 15, 2011 02:09 AM #26
Eliott Fuhrmam

Can do a buy/rehab/sell or flip can buyer then take over mortgage ?using 401 k for deposit so do not have pay tax as profit goes back to 401 however would like to do haddonfield and higher price houses

Dec 29, 2016 10:44 AM #27
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?


Jeff Belonger

The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
Ask me a question
Spam prevention

Additional Information