Fannie Mae’s HomePath Financing is a loan product that works with homes that Fannie Mae owns and are for sale. Fannie Mae is offering loans that do not require appraisals or mortgage insurance for home loans with as little as 5% down. Fannie Mae offers 10,15,20 and 30 year fixed rate loans and also 3 and 5 year ARM loans.

 

For 2nd homes/vacation homes, HomePath allows for 90% financing and for investment properties HomePath allows for 85% financing with out mortgage insurance and no need for appraisals. This is a tremendous opportunity for investors to purchase investment homes without mortgage insurance. This is the only loan product that will let an investor purchase a home with 15% down, no mortgage and no appraisal is required.  Investors are required to put down 20% or more with any other mortgage program.

HomePath financing willl allows for 6% seller paid closing costs, low fixed rates and minimum credit scores of 660. Properties eligible for HomePath financing include Single Family Residences, Town Homes, and Condos. 

 

A list of homes Fannie Mae is offering Home Path financing on is at www.homepath.com Please apply today for the Fannie Mae HomePath Home Loan.