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Fannie Mae: Loans, HomePath, and All You Should Know
Second, Fannie Mae will provide a $500 credit to the lender at the time that the loan is purchased if an appraisal was obtained for the …
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Updated: 7 hours ago
See Also:Fannie Mae Contact Information, Fannie Mae Foundation Phone Number, Show details
Fannie Mae HomePath - HomePath Property Qualifications [2020]
Is the Fannie Mae HomePath program still available? No, the HomePath program ended in October of 2014 due to a decrease in the number of foreclosures. In place of the HomePath program, Fannie Mae introduced the Fannie Mae HomeReady Mortgage initiative. This financing program offers many favorable terms for home buyers, including:
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Updated: 1 hours ago
See Also:Fannie Mae Contact Information, Fannie Mae Lender Contact Number, Show details
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Frequently Asked Questions
What is Fannie Mae-HomePath loan?
The Fannie Mae Homepath loan is a defunct mortgage program which reduced the cost of purchasing a foreclosed property for either personal use, or to flip for profit. Homepath loans required no private mortgage insurance (PMI).
What is a Fannie Mae HomePath property?
A Fannie Mae HomePath property is a house that’s being sold directly by Fannie Mae to an investor or a traditional buyer. There are two situations in which Fannie Mae ends up owning a house. One is if the house has gone through foreclosure and Fannie Mae owned the mortgage on it.