Fannie Mae Homepath Mortgage

I’m pleased to announce that we are now able to offer the Fannie HomePath product.  The Fannie Mae HomePath program is specifically for borrowers purchasing REOs directly from Fannie Mae.  It Includes a number of features which make it the strongest mortgage product available today.  Additionally, it is a fantastic marketing tool that you can use with those borrowers looking to purchase REO property (there are 420 Fannie owned properties currently in the city of Atlanta).   By narrowing your property search to those properties on the HomePath site, your buyer will be able to enjoy the following features of the HomePath loan:

• 3% Down payment and NO MORTGAGE INSURANCE
• No upfront MIP as required by FHA loans
• 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 APPRAISAL.  No appraisal fees and no need to deal with the appraisal issues that we are all fighting today.  This part is huge in the current market.
• 6% Seller contributions (we are limited to 3% above 80% LTV on a standard conventional product)
• 2nd Homes and Investors allowed.  Still no MI but a 10% down payment is required.
• Remember:  For investors, we are going back to a 10 property limit from the current 4.  So when you combine that change with this product, there is a huge opportunity.

Search for properties here:  http://www.homepath.com