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HomePath financing, available only on Fannie Mae-owned properties, offers great benefits, including a low down payment, no mortgage insurance and expanded seller contributions.
FNMA’s HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal, no mortgage insurance and expanded seller contributions. The final sales price is used to underwrite the loan. Mortgage insurance is also not required but for higher loan to value loans there may be a cost.
Benefits to the Borrower
- No lender-requested appraisal
- Low down payment (at least 3%) can be funded by your own savings, a gift, grant or a loan from a non-profit organization, state or local government or employer
- Flexible mortgage terms (fixed rate, adjustable rate or interest only)
- No mortgage insurance (ask your Loan Originator) for cost details on loans without mortgage insurance
- Expanded seller contributions for closing costs
- Available for primary residences, second homes and investment properties.
- Many condo project requirements are waived
Call (800) 400-1365 to speak with a REMN Mortgage Loan Originator to learn more about financing a Fannie Mae-owned property with the HomePath Mortgage.
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