HomePath

We Process, Underwrite and Fund HomePath in House

This special financing is available on Fannie Mae homes with the following logo:

HomePath mortgage financing benefits include:

* Low down payment 3% down Primary 10% down Second Home and Investment
* 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
* No declining markets policy
* No more than 4 financed properties
* No prepayment penalties

Eligible Property Types

1-4-unit properties

Planned unit developments

Condominiums

30 Day close on HomePath is not a problem!!!!!!!!!!!!!!!!!!!!

We Process, Underwrite and Fund HomePath in House

HomePath Mortgage Program Advantages Over FHA Home Loans

* Less Money For Your Down Payment – the HomePath mortgage only requires a minimum down payment of 3% versus 3.5% required for an FHA mortgage. With both of these mortgage options the down payment can come in the form of a gift.
* No PMI – PMI (Private Mortgage Insurance) is typically required for mortgages that have a loan balance that is greater than 80% of the home’s value or sales price. With the HomePath Mortgage you may not be required to pay PMI but you will have to pay PMI if you get a FHA Loan. With no PMI required you could save yourself a few hundred dollars with a HomePath loan.

Special Offers and Information

New Buyer and Selling Agent Incentive on HomePath® Homes

Fannie Mae is offering buyers up to 3.5% in closing cost assistance and a $1,500 bonus for selling agents on HomePath properties through December 31, 2010.

Buyers and selling agents must meet the following qualifications to be eligible for the incentive:

* HomePath property sale must close on or before December 31, 2010 and close within 60 days of offer acceptance
* Only owner occupants purchasing a HomePath property as their primary residence will receive up to 3.5% in closing cost assistance
* Only selling agents representing owner occupants purchasing a HomePath property as their primary residence will receive a $1,500 bonus. To be eligible for the agent’s bonus, the initial offer must be submitted on or after September 23, close within 60 days of offer acceptance and close on or before December 31, 2010. No bonus will be given for investor purchases.
* Buyers and selling agents must request incentive upon submission of initial offer

Fannie Mae’s innovative First Look period contributes to neighborhood stabilization by encouraging home ownership. During this period, owner occupants, public entities, and their partners can submit offers and purchase properties without competition from investor offers.

The First Look period is typically the first 15 days a property is listed on HomePath.com. Properties within the First Look period now include a countdown clock on the property details page, which displays the number of days remaining for owner occupants and public entities to submit offers.

If the property remains available for sale after the expiration of the First Look period, investor offers may be submitted and will be considered along with all other offers.