Fannie Mae HomePath Mortgage Financing

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:

homepath-mortgage

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:

homepath-mortgage

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.