Buy a Foreclosure with a Low Downpayment and No Mortgage Insurance

by Keith Landis on June 23, 2010

Fannie Mae offers incentives to Homebuyers in Pennsylvania who are looking to buy a home that they own.  Fannie Mae offer these incentives through the Fannie Mae Homepath Program.   HomePath mortgages provide up to 97% financing, with no Mortgage Insurance requirement and no appraisal, for purchase of FNMA owned real estate owned (REO) properties. 

The combination of low downpayment and no Mortgage Insurance makes this an attractive mortgage program.  Combine that with the fact that many REO properties are already priced at a discount make this an opportunity for Pennsylvania Home Buyers to make an affordable purchase with great appreciation potential.

Some highlights of the Fannie Mae HomePath Program include….

  • 3% Down Payment for Primary Residences
  • No Mortgage Insurance
  • Seller Contributions of 6% allowed
  • Also available for 2nd Homes and Investment Properties     
  • Low Credit Score Requirements                             

   To find properties available under this program visit….

                www.homepath.com

 

 

 

 

 

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