Fannie Mae HomePath Residential Buyers
Introduction: Welcome to the BIGHAT HomePath Residential Buyer Page. HomePath homes are Fannie Mae foreclosure properties with HomePath financing. In general, there is a 15-day waiting period for investors, so residential buyers have the first bite at the apple. If you combine a discounted purchase price with competitive interest rates and other Fannie Mae incentives, you’ve got the potential for an affordable home for years to come. Read more for HomePath advantages, HomePath advisors, and information on City of Portland programs.
HomePath Advantages: HomePath offers several advantages over conventional financing. First, the down payment can be as low as 5.00%. Second, mortgage insurance is frequently waived on HomePath properties, so up-front and monthly fees may not apply. Third, there’s generally no appraisal or lender-required repairs before closing. Fourth, Fannie Mae will pay for some or all of your closing costs (up to 3.5% of purchase price).
HomePath Advisors: To help you make informed decisions, I can refer you to a variety of trusted professionals from the mortgage and tax fields. As your broker, I will guide you through the intricacies of HomePath purchases. The mortgage broker will identify your buying potential and find you the loan package that suits you best. Tax planners can show you tax benefits and calculate the pre- and post-tax payments. With a group of dedicated professionals at your disposal, you’ll be able to negotiate the best purchase price, secure the perfect mortgage, and forecast your expenses.
Other Programs: The City of Portland offers several other programs for buyers, including the Mortgage Credit Certificate Program, which allows you to take a federal tax credit for mortgage interest paid. Contact me for more information on this and other programs.
Follow this link for information on the HomePath Investor Buyer program.
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