Home Path (Fannie Mae Real Estate Owned Properties): Take Advantage!
Currently over 300 eligible properties in Sacramento County and
103 available for Santa Clara County!
No mortgage insurance required! No appraisal necessary!
Fannie Mae sets the price!
Purchases Only!
Ø Owner Occupied
o Max LTV 97 (1 unit, Single Family, Condo’s & PUDs)
o Max LTV 80 (2 unit, Single Family)
Max LTV 95 (Co-ops- see geographic restrictions)
Max LTV 75 (3-4 units)
Second Homes
o Max LTV 90 (1 unit, SFD/SFA, Condo’s & PUDs)
o Max LTV 90 (Co-ops- see geographic restrictions)
Investment (Non-Owner)
o Max LTV 90 (1 unit, Single Family, Condo’s & PUDs)
o Max LTV 80 (2 unit, Single Family)
o Max LTV 75 (3-4 units)
Declining Market policy does not apply. No reduction in LTV required
Minimum 660 credit score
· If LTV is < 80 the minimum credit score will be 620
NO PRIVATE MORTGAGE INSURANCE
Geographic Restrictions:
· Properties must be an eligible FNMA REO Property. Refer to http://www.homepath.com/ for property listing
o Choose either the Basic search, or the Map Search to find available properties
o Only Home Path Mortgage Financing will be eligible
o Properties requiring Home Path Renovation Mortgages will not be eligible
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