Purchasing a Fannie Mae-owned Property

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 and flexible mortgage terms (fixed–rate, adjustable rate, or interest–only).

-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; ask your lender for cost details on loans without mortgage insurance.

-Expanded seller contributions for closing costs allowed.Available for primary residences, second homes and investment properties.Many condo project requirements are waived; ask your lender for details.

For more information, click here to find a HomePath Mortgage lender

Click here to go to Fannie Mae website to view properties