HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed.
Benefits to You, the Borrower:
• Low down payment
• Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer.
• No lender-requested appraisal.
• No mortgage insurance
• Expanded seller contributions for closing costs allowed.
• Available for primary residences, second homes and up to 10 investment properties
For more information on Fannie Mae Homepath mortgages in California please contact me on the form below or on the right hand side of this page. I will be sure to promptly reply to all questions.