Realtor like any other seller. What is special about Fannie Mae foreclosures
is that in addition to the other loan programs available for home purchases,
there is a special loan program designed specifically for Fannie Mae owned
properties called HomePath Mortgage.
HomePath Mortgage Loans allow borrowers to purchase a Fannie Mae owned
property with a low down payment, flexible mortgage terms, no lender
requested appraisal and no mortgage insurance. They also allow expanded
seller contributions to closing costs.
What Are The Benefits To The Borrower?
• Low down payment and flexible mortgage terms (fixed rate, adjustable rate,
or interest only)
• Down Payment (at least 3 percent) can be funded by the borrower’s own
savings, a gift, a grant, or a loan from a nonprofit organization, state or local
government, or employer.
• No lender-requested appraisal
• No mortgage insurance
• Expanded seller contributions for closing costs allowed.
• Available for primary residences, second homes and investment properties.
• Many condo project requirements are waived; ask us for details
We are your HomePath Mortgage Lender on the Central Coast.
Contact us for more information in Arroyo Grande, San Luis Obispo, Santa Maria, Pismo Beach, Paso Robles as well as throughout the entire state of California.
Give Us a Call Today!
We are qualified to help you through the process.