Homepath Financing / Via Fannie Mae Financing

What is Homepath?  Homepath is a program that Fannie Mae developed a few years back to help counter the overflow of properties coming onto the market.  Fannie Mae the nations largest owner in home mortgages instituted this Homepath program to streamline the loan process for new home buyers.  

Once a home that Fannie Mae owns is foreclosed on the home if not sold at auction will typically come on the market with the Homepath eligible designation.  These properties are then allocated to listing agents who will market the property for Fannie Mae.  

Fannie Mae has approved certain lending institutions and banks to originate Homepath loans.  Gateway Funding is one of the approved mortgage banks that has the ability to lend on this exciting program.

Some of the major benefits available to you are:

• Flexible Mortgage Terms (Fixed Rate, Adjustable rate or interest only options)
• Low Down Payment (3% for owner occupied, 10% second home, 15% investors)
• You may qualify if your credit is less than perfect (660 fico, 620 fico with 20% down)
• Available to Owner Occupants and Investors
• NO Mortgage Insurance
• NO Appraisal Fees
• Loan amounts up to $417,000.
• First LOOK Program - Owner Occupants have 15 days prior to investor offers.  See below for details
• First Time Home Buyers Eligible for owner occupied properties
• Seller Concessions up to 6% on Owner Occupants
• Homepath Renovation - where you can finance renovation work - call or email for details

First Look: 

Fannie Mae's innovative First Look marketing period contributes to neighborhood stabilization by encouraging home ownership. During this period, owner occupants who occupy the home as their primary residence, some non profits, and public entities and their partners can submit offers and purchase properties without competition from investor offers.

The First Look period is typically the first 15 days a property is listed on HomePath.com, except Nevada where it is 30 days. Properties within the First Look period include a countdown clock on the property details page, which displays the number of days remaining for negotiation with eligible purchasers. 

source: fannie mae - homepath.com

To find a Fannie Mae foreclosure that is eligible for Homepath Financing please visit http://www.homepath.com/.

CNN Mortgage

7025 E Greenway Blvd, Scottsdale, AZ 85254

(480) 824-3969 Office / (480) 718-7603 Fax

Adam Wain - Branch Manager
awain@cnnmortgage.com

To apply for home financing please click on the below link to set up an account and complete your loan application.
Click Here to Apply Now!