Thursday, July 19, 2012

HomePath Mortgage by Fannie Mae benefits

HomePath Mortgage allows a buyer to purchase a Fannie Mae-owned property with a low down payment, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions towards closing costs are allowed. Available for owner occupants and investors

HomePath Renovation Mortgage allows a buyer to purchase a property that requires light to moderate renovation. The one loan amount includes both the funds for the purchase and renovation — up to 35% of the as completed value, no more than $35,000. Available for owner occupants and investors.

 

Benefits to You, the Buyer

  • No lender-requested appraisal
  • Low down payment — at least 3 percent can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer.
  • Flexible mortgage terms (fixed-rate, adjustable rate, or interest-only)
  • No mortgage insurance; ask your lender 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; ask your lender for details.
  • For more information, contact a HomePath Mortgage lender

Note: Potential buyers should use the lender and financing product that best meets the needs of the buyer and the property, and should always consider requesting a home inspection of the property. *Ask your lender for cost details for loans with no mortgage insurance.

 

 

Cape Coral Florida

Provided by CapeCoralRealEstate

 

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