Fannie Mae is a government sponsored enterprise that provides much of the liquidity, stability, and affordability to the United States housing market. Contrary to popular belief, Fannie Mae does not provide home loans directly to consumers, however works with mortgage bankers, brokers and other primary mortgage market partners to ensure funds are available to homeowners and home buyers. Unfortunately, at times foreclosure cannot be prevented, therefore Fannie Mae has a goal to sell such properties in a timely manner to minimize the impact on the community. As a result, special financing is available only on Fannie Mae distressed property which is known as the HomePath ® Mortgage and the HomePath ®Renovation Mortgage (for more details click here) __________________________________________________________________________ HomePath® Mortgage FinancingThis special financing is available on Fannie Mae homes with the following logo:  The benefits include: - Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)
- You may qualify even if your credit is less than perfect
- Available to both owner occupiers and investors
- Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
- No mortgage insurance*
- No appraisal fees
__________________________________________________________________________ HomePath® Renovation Mortgage FinancingThis special financing is available on Fannie Mae homes with the following logo:  Available only on homes you make your primary residence and offers these benefits: - 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 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit, state or local government, or employer
- No mortgage insurance*
If you're an investor interested in renovating a property, you may qualify for financing under our HomeStyle® Renovation Mortgage product. *Ask about cost details on loans without mortgage insurance. **Geographic and unit restrictions apply. The property must be designated on HomePath.com as eligible for HomePath financing. Programs available only to qualified borrowers. Programs subject to change without notice. Underwriting terms and conditions apply. Some restrictions may apply. HomePath is a registered trademark of Fannie Mae. 1009 |