HomePath Renovation Mortgage Loan
HomePath Renovation Mortgage
The HomePath renovation mortgage is for people who are planning on buying a home that is currently owned by Fannie Mae and is in need of a few repairs before it is “move-in-ready”. You can use the HomePath renovation mortgage for a second home or an investment property as well as if you intend on using the property as your primary residencs. You will often see homes that are eligible for this program with the above logo on the sales sheets and will usually find more information in the remarks section of the MLS.
HomePath renovation mortgage loans have these benefits:
- Financing to fund both your purchase and light renovation
- Low down payment and flexible mortgage terms (fixed-rate or adjustable-rate)
- Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit, state or local government, or employer
- No mortgage insurance
If you are considering buying a home that is currently owned by Fannie Mae, be sure to look into the HomePath mortgage or the HomePath renovation mortgage – both are the best deal available for a home that is owned by Fannie Mae. In an effort to lower the inventory of houses they currently own, some of the best deals in a long time can now be had! We are happy to help you with your HomePath renovation mortgage financing, call us to find out more details.
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