Fannie Mae Home Path Loans are great loans. Home Path loans are usually done when Fannie Mae has foreclosed on a home. Fannie Mae will do a value assessment on the property and as a result the buyer does NOT have to do an appraisal. This makes it cheaper and faster to complete the Home Path loan process.
Home Path financing, available only on Fannie Mae-owned properties, offers great benefits — low down payment, no mortgage insurance, expanded seller contributions, and more. Home Path Mortgage is available for move-in ready properties for both owner occupants and investors.
For more information on low down payments that do not require mortgage insurance call us for a free consultation.