Fannie Mae HomePath Mortgage
Program Overview: Fannie Mae has in excess of thousands of real estate owned (REO) properties on their books. Theres a need to find buyers for these properties and lenders to provide financing for them. Wells Fargo provides HomePath financing.
Program Highlights: * Properties eligible include: single family, manufactured homes, and condominiums. Condominiums listed on the Home Path website are acceptable and all HomePath Mortgage parameters apply.(Fidelity Bond coverage is required and provided by the condominium association.)*Up to 97% financing* No PMI loan options*Purchase transactions only*No appraisal required. Sale price is used as the value of the home.*Minimum credit score is 660 with 80% loan to value or greater*Program can be used for Owner occupied, Second Home, and Investment properties.*Fannie Mae will not provide any concessions or pay for any fees customarily paid for by the seller unless its specified in the contract. In most cases, the Fannie Mae contributions are up to 3%.
For more details contact Tim Vicsik at Home Gallery Realtors. 574-329-9587 or Tim@TimVicsik.com