Looking for a foreclosure? Don’t know where to find one? Then check out Fannie Mae foreclosures on www.HomePath.com Homepath.com is Fannie Mae’s distressed property website where you’ll find all Fannie Mae foreclosures being marketed.
The Homepath system offers a tremendous opportunity for a home buyer. Many Fannie Mae foreclosures offer a Homepath mortgage. Homepath financing has advantages over other mortgages. You can put down as little as 3%, no appraisal is required and there is no mortgage insurance. That’s right. No PMI. Not all Homepath properties come with Homepath loan options but most do.
Another advantage is the Homepath Renovation Loan. This loan is aimed at typical renovation needs and not major work. Capped at $35,000 and/or a maximum 35% of completed value, Homepath Renovation loans allow owner occupiers and investors to roll the renovation cost into the mortgage. Here too loan terms are significantly better than with other mortgage options and again, no PMI.
Homepath properties are listed with real estate agents for marketing. Homepath Financing can be accessed through mortgage bankers licensed for them. Emi Kalici at Weichert Financial is an expert Homepath approved banker. To find out if you qualify for Homepath financing, give Emi a call at the office (201-569-7888) or on her cell phone (201-484-9774).