Fannie Mae Homepath Mortgage In California

Fannie Mae is an organization that purchases mortgages in the secondary market after banks fund home loans. When a borrower defaults on payments and the property is foreclosed on, the ownership will revert back to Fannie Mae. Then Fannie Mae will list this property on the market for sale and be the seller. A really nice advantage of buying a home Fannie Mae is selling is they are all eligible for Homepath Financing. Fannie Mae does not originate the Homepath loans; lenders such as myself make the Fannie Homepath Mortgages. So anytime you see a home owned by Fannie Mae, you can go through a lender like me to get a special Homepath Financing in California.

Here are some of the highlights of Fannie Mae Homepath loans in California:

Homepath Financing requires only 3% down payment on all of their properties (although 5% allows for a much better rate and terms)
The Homepath Mortgage does not require an appraisal. This can help you buy a fixer upper property that would not go FHA,VA or conventional
Homepath loans on condos do not require any information from the hoa such as owner occupancy, percentage of hoa delinquencies, etc… that are required with FHA, VA and conventional loans
Homepath loan limits go all the way up to $729,750 in many California areas such as San Jose, San Francisco, Los Angeles, Orange County and San Diego
The Homepath Mortgage DOES NOT have any mortgage insurance

So those are some of the advantages of Homepath Financing in California. Feel free to email me at homeloan8@gmail.com or call 858-922-7899 to discuss getting approved for a Fannie Mae Homepath mortgage in California.

Regards,

Rob Chomentowski

Sr. Loan Officer (and FHA, VA, conventional, Homepath specialist)

858-922-7899

homeloan8@gmail.com

Fannie Mae Homepath Mortgage In California

FHA Loan Information

FHA Loan FAQs

Recent Articles