This is among the reasonswhy it’s important to do your homework on a home before submitting an offer to purchase. However, just because HomePath homes can be purchased cheaply, that doesn’t mean that they’re always a bargain.įannie Mae is careful to warn buyers that HomePath homes are always sold “as-is”, which means that major repairs are sometimes needed and, that the value of a HomePath home is never guaranteed. It’s not uncommon for foreclosed homes to be sold at a discount to market of 20% or more.
HomePath homes are homes which have been repossessed by Fannie Mae and which are priced to sell quickly. Specifically, homes financed with a Fannie Mae-backed mortgage which have gone into default or foreclosure. HomePath: Homes Sold At A DiscountĪt its heart, is a program showcasing certain homes for sale nationwide. Here’s a quick rundown of the HomePath program’s benefits, and how you can take advantage of them as a home buyer in today’s mortgage market. “HomePath” is actaully a brand name which describes several closely-related homeloan programs. HomePath is a “special deal” for investors HomePath is a closing-cost assistance program for first-timers homebuyers D. HomePath is a homebuyer education program C. HomePath is a list of foreclosed homes for sale B. Here’s a quick quiz to see what you know of the new HomePath program.Ī. HomePath has also morphed since its initial release into a different type of home loan option - the. Looking at the Fannie Mae HomePath program for your next purchase of a home? You’re not alone - HomePath has helped scores of U.S. Novem3 min read Fannie Mae HomePath™ Mortgage
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