Fannie Mae created special financing packages for purchasers of homes that they own and are selling.  Few lenders are able to facilitate these programs.  Proudly, iLoan offers both.

HomePath® Mortgage Financing

This special financing is available on Fannie Mae owned homes with the following logo:

The benefits are as follows:

●      Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)

●      You may qualify even if your credit is less than perfect

●      Available to both owner occupiers and investors

●      Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer

●      No monthly mortgage insurance option available

●      No appraisal fees

HomePath® Renovation Mortgage Financing

This special financing is available on Fannie Mae homes with the following logo:

Available only on homes you make as your primary residence and offers these benefits:

●      Financing to fund both your purchase and light renovation (works much like a FHA 203K(s))

●      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 monthly mortgage insurance option available

If you’re considering buying a foreclosure that is owned by Fannie Mae, call us for more information on how you can use these financing packages to your advantage.

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