I'm looking at an REO sale (i.e., foreclosure) of a Fannie Mae-owned property. The home is eligible for financing through HomePath.com. Here is the fact sheet for mortgages originating through HomePath.com.
- Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)
- You may qualify even if your credit is less than perfect
- Available to both owner occupiers and investors
- 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
- No mortgage insurance
- No appraisal fees
- Also eligible for HomePath Renovation Mortgage
- HomePath Mortgage financing is available from a variety of lenders - both local and national.
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