Fannie Mae’s New HomePath REO Loan
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 it’s current real estate owned (REO) properties across the country. Lower down payments and less stringent loan requirements mean more home shoppers can become homebuyers.
Here are a few of the details.
⇒ Only 3% down payment required on primary residence property
⇒ No Mortgage Insurance required
⇒ No Property Appraisal required
⇒ Only 10% down on 1-2 unit investment properties
⇒ Get up to 6% seller concessions on primary residence properties
⇒ Allows investors to own up to ten properties
