Fannie Mae Homepath Mortgage is special financing only available for properties owned by Fannie Mae. There are thousands and thousands of Fannie Mae owned properties throughout the state of California, so using a Homepath Mortgage is a very viable way to own a home today. These properties are all listed on the market, they will usually state in the listing that they are “Fannie Mae Owned”. Here are some highlights of getting a Fannie Homepath loan to buy a home today in California:
- Fannie Homepath financing requires only 3% down. However I recommend at least 5% down as the homepath mortgage rates are better with at least 5% down
- Homepath mortgage does not require an appraisal
- Homepath mortgage does not have mortgage insurance. If you get a FHA loan or conventional loan with <20% down, you will have significant monthly mortgage insurance. Homepath financing does not have this mortgage insurance
- Fannie Homepath financing offers 10% down to investors buying Fannie Mae properties as rentals
- Fannie Homepath financing offers 10% down if you are buying the property as a 2nd home
- Homepath financing does not require all the condo project HOA details that FHA and conventional do.
So those are some of the really huge advantages of using a Homepath Mortgage to buy a property in California. Please send me an email at homeloan8@gmail.com or call at 858-922-7899 if you would like to get approved for Homepath Financing.
Warmest Regards,
Rob Chomentowski
Sr. Loan Officer (FHA, VA, USDA and conventional loan specialist)
858-922-7899
Related posts:
- Fannie Mae Homepath Loans An Excellent Alternative to Getting FHA Loan California
- Fannie Homepath Mortgage, Great Option to Buy In California
- 10% Down Only Needed To Buy Invesment Property With Homepath Mortgage In California
- Fannie Mae Homepath Conventional Loan vs FHA for California Home Buyers
- Getting New Loans Up to 10 Total Mortgage Loans In California
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