Fannie Mae Homepath Financing Program

HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed.

Benefits to You, the Borrower

• Low down payment and flexible mortgage terms (fixed–rate, adjustable rate, or interest–only).
• Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer.
• No lender-requested appraisal.
• No mortgage insurance; ask your lender for cost details on loans without mortgage insurance.
• Expanded seller contributions for closing costs allowed.
• Available for primary residences, second homes and investment properties.
• Many condo project requirements are waived; ask your lender for details.

Wells Fargo Home Mortgage is approved for this Fannie Mae program.  For more details please contact Tim Vicsik at 574-329-9587 or Tim@TimVicsik.com. 

This entry was posted on 19. April 2011 at 16:38 and is filed under Wells Fargo News, 1st Time Buyers, Programs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.

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