by Brian Burke
on Monday, November 30th, -0001 at 12:00am.
Fannie Mae is making it easier for buyers and for real estate agents with Homepath Financing. Homepath is the name given to Fannie Mae's Finance program for Home Buyers. A Fannie Mae Home is a Foreclosure held by Fannie Mae.
If you submit an offer for a Fannie Mae HomePath property and close by October 31, 2011, Fannie Mae will pay up to 3.5% of the purchase price towards the Buyer's closing costs and Appliances. The will also insure the appliances. There are programs also where you can get extra money escrowed for updates and repairs. ( Contact us for Details)
Homepath homes are just like HUD Homes and Foreclosures. HomePath properties are pretty good deals. Here's why:
No appraisal is necessary- Huge Bonus these days!
There is only a 3% down payment-Lower than FHA!
There is no mortgage insurance- Lowers monthly payment!