Fannie Mae’s New HomePath REO Loan

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Here is something positive I just read……

 

“Fannie Mae, the agency sponsored by the U.S. government to help make housing more affordable to all Americans, now offers HomePath, a special new home loan to finance the sale of its current real estate owned (REO) properties across the country.

Lower down payments and relaxed requirements mean more home shoppers can become homebuyers. HomePath helps you sell more homes!

Prospect Mortgage Company is among a select group of mortgage lenders nationwide who can offer the HomePath loan to get your clients into one of these foreclosed properties.

Here are the key benefits of a HomePath Mortgage Loan:
  • Only 3% down required on a primary residence property
  • No mortgage insurance required
  • No property appraisal required
  • Only 10% down on 1-2 unit investment properties
  • Get up to 6% in seller concessions on primary residence properties”

What a great time to buy!!!


Search for Fannie Mae REO properties eligible for HomePath financing at:
http://reosearch.fanniemae.com/reosearch/

March 13, 2009 by ·