Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
I was reminded earlier in the week of some of the great benefits HomePath financing offers in certain situations.
In the Imperial County and many other parts of the country HomePath financing may be your only option to purchase a home specifically if it is a condo. We have several condominiums in the Imperial Valley that are not financeable because of low owner occupancy levels and defunct HOA’s.
HomePath is the brand Fannie Mae uses for its REO listings. HomePath financing is the home loan program made available for property owned by Fannie Mae. In some cases it may be your only option if you don’t have cash. I'll review some of the primary benefits of using HomePath financing below.
HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, with flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed.
Benefits to You, the Buyer
- Low down payment with flexible terms like a fixed-rate, interest only, or adjustable rate.
- Down Payments with as little as 3%, if you can afford 5% you will have fewer fees than the 3% option.
- Down Payments can be funded by savings, a gift, a grant, employer, or even a loan from a nonprofit organization.
- HomePath does not require the buyer to pay for an appraisal.
- No mortgage insurance.
- The option to have the seller contribute towards your closing costs with a credit.
- This home loan program is available for primary residences, second homes and investment properties.
- My favorite reason, many condo projects are approved for HomePath financing while other FHA and conforming loans are not.
You should give HomePath financing strong consideration especially if your looking at certain condos that may have limited financing options.
If your looking for HomePath listings in the Imperial Valley you can set up a search on ImperialValleyREO.com or HomePath’s website. If your considering a HomePath property my team and I have sold hundreds of them. Please feel free to call or email us with any questions.
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
To learn more about buying your first home, check out my How To video called http://firsthomebuyervideo.com to learn more.
How can I help you? Feel free to visit and post comments regarding the website and stay tuned for upcoming changes to the look and feel of ImperialValleyREO.com
Are you in the market to buy a home? Get personalized information for any area in the Imperial Valley, including El Centro, Brawley, Calexico, Imperial, Heber and surrounding cities by going to ForSaleByFred.com, GetRealWithFred.com,
ImperialValleyREO.com, or First Time Home Buyer Video
Imperial County homeowners who are considering selling their home are encouraged to contact Frederic Din, REALTOR(R) for additional information about getting the most current market values for your home or area. Member of the Imperial County Association of REALTORS (ICAOR).
El Centro real estate - Brawley real estate - Imperial real estate - Calexico real estate - Heber real estate - Imperial County real estate - Imperial Valley real estate - Imperial Valley REO - Imperial Valley MLS
Imperial Valley listings, info & photos on your cell phone, text GOTO IVREO to 95495
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