What is Fannie Mae HomePath® Financing?

What is Fannie Mae HomePath® Financing?  Should I use it for my Las Vegas purchase?

Fannie Mae HomePath® Financing is a program that could help more Las Vegas, NV homeshoppers become home owners.

With the HomePath mortgage program on your Las Vegas property, more people looking for a new home may be able to make a purchase and become Las Vegas home owners! Fannie Mae, a government-sponsored enterprise that helps increase the availability of homeownership to low- and moderate income buyers, owns properties that may be designated as eligible for a HomePath mortgage. Only Fannie Mae-owned properties are eligible for this special financing!

Benefits of the program include:  

• 15- and 30-year fixed-rate options and 5/1 and 7/1 LIBOR ARM options
• Primary residences, second homes and investment properties are eligible
• Up to 97% financing on a primary residence  
• Up to 90% financing on a second home  
• Up to 85% financing on an investment property  
• No appraisal required
• No condo or PUD warranty required
• All loans are run through DU with an Approve Eligible
• Up to 6% seller contributions permitted on primary residence and second home  
• Minimum FICO 620
• Gift funds can be used for entire down payment in some circumstances
• No PMI required

Does this sound like the program that could help turn your goal of Las Vegas homeownership into a reality? Contact me today to learn more about HomePath financing and how I can help you become a home owner!