nie Mae expands investor financing options.
Just received this e-mail from Tim and Julie Harris Harris Real Estate University since I subscribe to their daily e-mails. Fannie Mae recently announced the expansion of its Homepath Mortgage product that provides home buyers and investors financing for the purchase of Fannie Mae-owned properties. This new product from Fannie Mae will allow eligible invididual and LLC borrowers to finance up to 20 properties using the Homepath Mortgage. NAR has long called for expansion of financing opportunities for investors as a way to increase the absorption of REO properties. Fannie Mae will offer flexible lending terms and will not require appraisals of the properties.
First of all my hands off to Fannie Mae. Happy to hear also that NAR has been pushing this too for a long time. I can only hope offering a product like this will help make more qualified renters who want to buy a house become homeowners. Many real estate investors out there are already buying up good amount of these properties. So this product should help them buy even more real estate investment properties. And this product will definitely help move inventory especially in a area like PG County MD where they are still a lot of Short Sales and Foreclosures. Though recently I have been seeing some regular sales come on the market in this area.
So what do you think about Fannie Mae expanding financing options? Also visit Home path financing options for more information on the program and participating lenders.
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