A brand new Fannie Mae HomePath® opportunity is now available to Alabama investors. The Fannie Mae HomePath® loan program has now been expanded to allow up to a total of 20 financed properties (including those currently being financed) under an exclusive Prospect Mortgage loan program. No other lender in the country can offer this special financing to AL buyers.
Only Prospect Mortgage gives you the opportunity to capitalize on both the below-market prices of foreclosures owned by Fannie Mae and the ability to carry financing on up to 20 investment properties for each investor. Most loan programs allow only four to ten (4-10) financed properties for each investor.
To qualify for the loan program, the property must be designated as an eligible Fannie Mae HomePath® property. The loan carries a Fixed Rate and no mortgage insurance. There is also no appraisal is required on HomePath® mortgages. The maximum loan-to-value ratio allowed is up to 70%. The program is available for one- to four-unit residential properties. Second homes are ineligible for this program.
To start searching for available properties, you can go to the HomePath website. If you would like to get Pre-Qualified, you can visit my website at www.rodneymason.com.
HomePath is a registered trademark of Fannie Mae.
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