Home Renovation - Made Simple

HOMEPATH

The newest loan program for homes that “need a little work” is the Fannie Mae HomePath renovation loan. The HomePath renovation loan is ONLY for homes that are currently owned and designated by Fannie Mae on the www.homepath.com web site as eligible for HomePath financing. Because Fannie Mae currently owns so many homes, this is one way they are helping people get into homes whether it be a primary residence, a second home or even an investment property.

The benefits include:

·	Financing to fund both your purchase and light renovation
·	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 organization, state or local government, or employer
·	You may qualify even if your credit is less than perfect
·	Available to both owner occupiers and investors
·	No mortgage insurance option
·	No appraisal fees

If you're interested in a property eligible for HomePath financing or just want to learn more, contact us now.