Home Buyer
You can get a renovation loan for homeowners – A new FannieMae program
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In today’s challenging real estate market, more buyers are looking at REO properties. Foreclosures are presenting both realtors and lenders new challenges. To help, Fannie Mae’s HomePath® program is designed to move Fannie Mae REO properties.
For the homebuyer, HomePath could be just what you or your client needs to move into a new home:
- Low down payment and flexible mortgage terms (fixed-rate and adjustable)
- No Mortgage Insurance
- No Appraisal Fee
- Borrowers may qualify even if their credit is less than perfect
- Single-family, condo, duplex, 4-plex all eligible
- Properties available all over the country
- Low down payment can be funded by:
- Borrower's own savings
- A gift or grant
- A loan from a non-profit organization, state or local government or employer
Give me a call today. I know HomePath and REO properties. I can help you or your customers make the most of this unique program designed to help revitalize and stabilize neighborhoods.
Contact Michela’s Homes, we work closely with the only HomePath loan Lender in the Madison Area. We can find you a FannieMae property that fits your needs and is eligible for a renovation loan.