Some lenders really want to get rid of their foreclosure inventory, so much so that they will allow financing of 3% down, whether owner-occupied or investment use. Such is the case with Fannie Mae and their “HomePath” financing program. Here are some of the highlights of this program:
- 3% down payment, with up to 6% credit for closing costs
- Owner occupied or investment property
- No Mortgage Insurance
- No Appraisal Required
- Don’t need “A” credit
- Homes are sold as-is condition
Think of Fannie Mae’s HomePath financing program as FHA financing on steroids, with less cost and more options. Of course you must qualify for the HomePath financing program.
The only caveat; this financing is only available on select Fannie Mae properties, and we have them! For a list of qualifying homes and lenders to pre-approve you, please contact us!