Here is a great blog with tons of research, data, and links from my friend Jerry Newman on a wonderful topic about special financing available for Fannie Mae and the HUGE advantages of financing the the Homepath program. This is certainly worthwhile reading and glad to spread the word from my buddy, Jerry.
Is the Fannie Mae Home Path Program Good for Buyers?
Yes, when you consider that the Home Path Mortgage allows a borrower to purchase a Fannie Mae owned property with a low down payment, flexible mortgage terms, No lender-required appraisal, and No Mortgage Insurance, and even some expanded seller contributions to assist with closing costs are allowed too.
Buyers may even want to take advantage of Fannie Mae’s New Innovative, “First Look” Program. The “First Look” marketing period was created to promote home ownership and to contribute to neighborhood stabilization, which allows home buyers to bid and to purchase foreclosed properties before investors. In most states the “First Look” period is the first 15 days on the market. Look for this First Look sign on the Fannie Mae Home Path website.
Buyers may choose 97% conventional financing, and the 3% down payment can be gifted or grant funds. Keep in mind there is No PMI, and No Appraisal, since the Sales price equals the value. Fannie Mae’s foreclosed properties are available as primary residences, second homes, and investment properties. Many condo project requirements are waived. These Home Path properties offer flexibility and opportunities to save some money. So why not take a look at some of them today?
For More Information on the Fannie Mae Home Path Program, contact Jerry Today, who will connect you with some Preferred Fannie Mae Home Path Lenders. For a list of available foreclosed properties in the San Antonio, TX area, see Bexar County Fannie Mae REO Homes For Sale. Your Local San Antonio Agent will be glad to assist you in placing your online Bid for any of these Fannie Mae Foreclosed Homes.
Jerry Newman, REALTOR®
US Army Retired
Keller Williams Realty
San Antonio, Texas
Direct - (210-789-4216
Fax Line (210) 696-9981
Each Office is Independently Owned and Operated
Your Local Real Estate Expert,Let me Google that for You..