What is a HomePath?
What Is HomePath? HomePath is a Fannie Mae program that can help you move into a foreclosed home with financial assistance. You may be able to buy a home with a down payment as low as 3% down when you take a HomePath conventional mortgage.
Can an investor buy a Fannie Mae home?
Fannie Mae’s homes are available to owner occupants as well as investors. Once you find a home that you would like to buy, you must submit a written purchase offer through a licensed real estate agent. Fannie Mae will consider standard contract contingencies such as financing, appraisal or home inspection.
What does it mean when Freddie Mac buys your loan?
If Freddie Mac owns your mortgage, then your lender must have sold it to Freddie Mac — or sold it to an investor that eventually did. Freddie Mac only buys mortgages that meet its underwriting criteria, meaning that it considers you a good credit risk and your home a worthy investment.
Can I buy a Fannie Mae HomePath property as an investment property?
Whether you’re looking to purchase your first rental property or you’re an experienced investor, a Fannie Mae-owned home can be a good investment opportunity. The period begins when the listing for the Fannie Mae owned property appears on HomePath.com.
What is a HomePath home?
HomePath homes are foreclosures owned by Fannie Mae. Fannie Mae’s Ready Buyer TM program can help you buy a home with as little as 3% down for first-time homebuyers. You may even qualify for up to 3% in closing cost reimbursement. HomePath homes are usually more affordable than standard-market homes, but they’re also sold in as-is condition.
What is the HomePath short sale portal?
The HomePath Short Sale Portal is a Fannie Mae resource for listing agents who are working with clients who are considering or pursuing a short sale on a property where Fannie Mae is the first lien holder. Request list price guidance directly from Fannie Mae before listing your client’s property.
Is the HomePath ready buyer program right for You?
Major real estate investor Fannie Mae’s HomePath Ready Buyer™ program allows potential homeowners to buy a foreclosed property with as little as 3% down with up to 3% closing cost assistance. If you want to buy a home but can’t afford a standard-market property, choosing a HomePath home might be right for you.
What is a Fannie Mae HomePath property?
All of the properties available for sale through Fannie Mae are owned directly by this agency. A “HomePath property” is the term used to apply to any home for sale by Fannie Mae, regardless of the type or location. Each property has been either foreclosed or acquired through a deed-in-lieu of foreclosure.