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Home Path – Fannie Mae

Home Path Loans are through Fannie Mae approved Lenders.

We fund  purchase loans ror Home Path mortgages.

Benefits of Home Path Mortgage Loans:

  • No Appraisal required
  • Financing for both purchase & slight Home renovation costs
  •  3% Downpayment (own funds, gift funds from family or employer, grant, )
  • No Mortgage Insurance
  • Owner Occupied & Investors
  • Fixed Rate Mortgage / Adjustable Mortgage / Interest Only option available

** Property must be a Home Path eligible House.

 

Fannie Mae purchase calculator (Note: this calculator is a general rule of thumb, It is NOT always the guidelines for loan approvals. Consult with your loan officer for your particular situaions).

First Look Program

Fannie Mae’s innovative First Look marketing period was created to promote homeownership and contribute to neighborhood stabilization — allowing homebuyers to bid and purchase foreclosed properties before they are made available to investors. Details include:

  • First Look is typically the first 15 days a property is listed on HomePath.com (Nevada is 30 days).
  • Only owner occupants (buyers who will occupy the home as their primary residence), some non profits, and public entities and their partners can submit offers and purchase properties.
  • Properties in the First Look period have a countdown clock on the property details page, displaying the days remaining to purchase.
  • Investor offers submitted after the First Look period expires will be considered along with all other offers.

Ask a Fannie Mae listing broker for more details. If you are concerned that the First Look marketing period is not being handled appropriately on a particular property, contact the Fannie Mae Resource Center immediately at 1-800-732-6643.

Financing Assistance Programs

Many state and local housing authorities offer financing programs that can assist you with the down payment and purchase of your new home. Additionally, HUD’s Neighborhood Stabilization Program (NSP) provides homebuyer funds through special financing programs.We support public funds programs and offer additional assistance to the buyer, including the following:

  • Earnest money requirement for individuals using public funds is only $500. Fannie Mae waives the earnest money requirement for public entities using public funds to purchase a Fannie Mae- owned property.
  • Once an offer using NSP funds is accepted, buyers have the opportunity to renegotiate after receiving an NSP required Uniform Residential Appraisal value for the property.
  • The standard closing period for a public funds offer is 45 days, which allows time to fulfill the NSP requirements for funding.
  • Buyers using public funds to purchase a home can do so without competition from investors during the First Look marketing period (typically the first 15 days on the market).

Contact us

Apply Online

 

 


  • Ben was so great to work with on our refinance. He went above and beyond to make sure it was done right and that everything was in place. We would highly recommend him to anyone.

  • Ben worked with us when we were buying a home and I was particularly impressed with how quickly he always responded, even at odd hours. He was a pleasure to work with and we have already recommended him to friends.

  • Ben was courteous, professional, and knowledgeable. He had our best interest at heart through our entire home buying process and never pressured us. I would recommend him to anyone who is looking to buy or refinance a home.


  • Easy online Application
    Online Mortgage Application

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    All loans subject to credit approval. Rates and fees subject to change. Mortgage financing brokered by Mortgage Miracles Happen, LLC. Equal Housing Lender.
    Mortgage Miracles Happen, LLC is a mortgage broker in Arizona, Colorado, Florida, Texas & Utah.
    NMLS: 1289680; Arizona: 0937981, AZ Address: 7137 E Rancho Vista Drive, STE B05, Scottsdale, AZ 85251;
    Colorado: Mortgage Miracles Happen, LLC; Florida License # MBR1900,
    UT: Mortgage Miracles Happen, UT license # 7380298 Utah DRE,
    Texas TDSML Texas Recovery Fund
    All rights reserved. © 2017

    Tel: 1-(801)-399-2364 | Texas Office Tel: 1-(281) 724-7423|

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