HomePath Frequently Asked Questions (FAQ)
Texas HomePath Lender
The real estate industry is buzzing about HomePath. Fannie Mae acquires homes through foreclosure. Buyers can finance these properties with only 5% down (as of November 16, 2013). HomePath rates are excellent. No appraisal required, nor is mortgage insurance.*
The Leaman Team is an approved HomePath lender nationwide.
Benefits of HomePath Mortgage Financing:
- Low, 5% down payment (as of November 16, 2013) can be made through a variety of resources:
- Personal savings
- Gift or grant
- Loan from a nonprofit organization, state or local government, or employer
- Flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)
- Available to both owner occupants and investors
- You may qualify if your credit is less than perfect
- Financing can fund both purchase & light renovation
- No appraisal required
- No mortgage insurance
What kinds of properties are available in the Fannie Mae HomePath program?
- Single-family homes
All HomePath properties are owned by Fannie Mae. The number, types and sales prices of homes offered for sale may vary.
Where can I find HomePath properties for sale?
Fannie Mae uses local real estate professionals to prepare, maintain, and list the properties for sale. All HomePath properties are available online: www.HomePath.com
Can I Buy a House Directly from Fannie Mae?
Fannie Mae depends on the expertise of local real estate professionals and accepts offers only through listing agents. You may work with any real estate professional to submit an offer to the real estate agent who has listed the property.
Special Offers and Incentives for HomePath properties:
HomePath has ongoing special offers for buyers and agents such as assisted closing costs and selling-agent bonuses. To view current specials, visit: https://www.HomePath.com/incentive/index.html
If you or someone you know has questions, please contact The Leaman Team today: (800) 301-3405 or email Team@MaxLeaman.com.