Buying a HomePath Property

Many good investment properties are part of Fannie Mae's Home Path program.  These are properties that Fannie Mae has foreclosed on and there are many benefits:

1)  Fannie Mae has preferential financing through its HomePath program.  A buyer only has to put down 3% of the purchase price, there are flexible terms including an interest only option, there is no mortgage insurance, no appraisal fees, and no appraisal so there won't be a problem getting the financing.

2)  Fannie Mae has a HomePath Renovation Mortgage, which includes some financing to renovate the property up to $35,000.

3)  Competitive Pricing.

Whereas typical lenders require 20% down, payments and construction loans are hard to find, Fannie Mae will give investors the financing to buy cash flow properties with very little down.  If you are a savvy investor you can take advantage of these great opportunities.