Thursday, July 8, 2010

HomePath Mortgage is now available!

Effective Date:  July 7, 2010

HomePath® Mortgage is the program Fannie Mae is utilizing to reduce their current inventory of REO properties.  This program is expected to help bring a positive impact to at risk neighborhoods, by helping prospective buyers purchase Fannie Mae REO homes.  

Contact me for further details about this program and to search for properties go to 

  • No Appraisal Required
  • No Mortgage Insurance
  • Up to 97% LTV available for Primary Residence
  • Up to 90% LTV for Conforming High Balance
  • Up to 90% for second homes

Important items to Note:

  • HomePath® Renovation Mortgage is not eligible.
  • Manufactured homes are not eligible.
  • Condominiums are not eligible.
  • Use of Down Payment Assistance for 97%  Flex programs is not allowed.
  • Primary Residence or Second Home only. 
  • Single Family residences and PUD’s only.
  • 15-year or 30-year fixed rate terms only 
  • Can not have mortgage or housing late payments in last 12 months.

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