If you are a searching for a deal, most buyers, even first time buyer or working with real estate agent looking for foreclosed or banked owned properties, you should consider contacting me regarding Fannie Mae HomePath financing. This program allows for up to 97% LTV financing on Fannie Mae REO (real estate owned) properties.
With HomePath financing, no appraisal is required by the lender. The sales price is the appraised value for the purposes of financing. I would recommended any buyer to purchasing a HomePath home order an appraisal if there is any question about the property value. You don't have share the appraisal or property inspection with the lender.
Fannie Mae's HomePath database includes only properties that are owned by Fannie Mae. There is a wide selection of homes, including single-family homes, condominiums, and town houses—located in a variety of neighborhoods. The number, types and the sales prices of the homes that are offered for sale may vary substantially. Many of these homes are relatively new; however, older homes are offered in some areas. Some homes may require repairs. Search Here
HomePath financing is available for all types of occupancy, primary, second home, and investment, but the maximum LTV's for second home and investment property purchasers are lower.
Check out the bullets below and give me a call.
- Low down payment and flexible mortgage terms
- Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a secured loan from a nonprofit organization, state or local government, or employer
- No appraisal required
- No mortgage insurance
- Available for primary residences, second homes, and investment properties
You can search those properties by Fannie's HomePath direct website - www.homepath.com