As the nation has went through the housing boom and moved into the housing bust – no organization currently owns more homes than Fannie Mae. To help drive demand for home buyers to want to buy this inventory, Fannie Mae has come out with a special financing program called HomePath Renovation Mortgage Financing where people who buy homes currently owned by Fannie Mae and include renovation of the prooperty into one mortgage loan .
HomePath Renovation Mortgage Loans
When a property goes into foreclosure and is given back to the lender, it is common for it to need a few repairs. For homes in this condition, Fannie Mae developed a special financing program called the HomePath Renovation mortgage loan and is available only for people who want to occupy a property as a primary residence or investors.
Homepath Renovation Loan Benefits
Just a few of the benefits of the HomePath Renovation mortgage loan program include:
- Financing to fund both your purchase and light renovation
- Low down payment and flexible mortgage terms (fixed-rate or adjustable-rate)
- Down payment (at least 5 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit, state or local government, or employer
- Mortgage insurance is not required
- Several lenders offer HomePath Renovation Mortgage financing
To see current Fannie Mae Listing consult your real estate agent or visit Fannie Mae's web page at www.homepath.com
Like my Renovation Facebook page to see current FHA 203k, HomeStyle and HomePath Renovation Projects at www.facebook.com/FHA203kRay
To be approved for Homepath Renovation loan please contact me at 571-238-6468 or email at firstname.lastname@example.org