A Homepath mortgage is available on Fannie Mae owned properties with as little as 5% down payment. No mortgage insurance is required and no appraisal is required on a Homepath mortgage.
UPDATE: As of October 7, 2014, Fannie Mae eliminated the HomePath and HomePath Renovation and are in the process of removing all HomePath Logos from properties listed on the HomePath web sites and Fannie Mae REO properties. All HomePath contracts must have an executed date on or before October 6, 2014, to still be eligible for HomePath financing.
Fixed Rate: Fixed for the entire length of the loan
• 30-year fixed
• 20-year fixed
• 15-year fixed
Homepath loans require a minimum of 5% down payment for a primary residence, 10% for a second home, and 10% for an investment property.
No mortgage insurance is required on a Homepath Mortgage.
Homepath renovation mortgages are also available