This special program allows a potential buyer to purchase a Fannie Mae-owned property with a down payment as low as 3 percent, funded by the borrower’s own savings, a grant, a gift, or a loan from a nonprofit organization. HomePath mortgages are eligible as primary residences, second homes, and investment properties. Possibly the largest incentive for the HomePath program is that the mortgage does not require a property appraisal, mortgage insurance premium, or monthly mortgage insurance. Seller contribution limits are expanded for closing costs allowed. Additionally, HomePath offers renovation mortgages. For more information, and to search for Fannie Mae-owned eligible homes, please visit HomePath.com.
HomePath Highlights
- Purchase a Fannie Mae-owned home with a down payment as low as 3%.
- No appraisal requirement.
- No private mortgage insurance (PMI).
Calculate your monthly payment and see how the principal is paid over time.
Payment Amortization Calculator
Learn about alternative loan programs that may fit your goals.
- Purchase a primary home with as little as a 3.5% down payment.
- Qualify with less stringent qualification and credit requirements.
- Access to all fixed-rate and adjustable terms.
- Ability to purchase a home with as little as a 3% down payment.
- Flexible mortgage insurance choices. Learn about mortgage insurance options.
- Fixed-rate and adjustable-rate program options.
- Avoid mortgage insurance all together with only 20% down and access the most competitive rates the wholesale market has to offer.
- Purchase your primary home with absolutely no down payment.
- No monthly mortgage insurance (PMI).
- Fixed-rate and adjustable-rate program options, including jumbo loans.
- An opportunity to purchase a home up to $2,000,000.
- Purchase your primary home with as little as a 15% down payment with no mortgage insurance.
- Enjoy the ability to pay-down or payoff your mortgage at any time without a pre-payment penalty.
- Credit qualification flexibility as low as a 620 score.
- No down payment requirements.
- Designed for relief for low to moderate income qualifiers (check to see if this program is available in your area).
Why you should choose Starwest Mortgage for your home purchase:
- As a broker, Starwest gives you access to the most competitive rates, fees, and programs the wholesale lending industry has to offer. Why use a broker?
- No Closing Cost program
- Get loan status updates anytime, anywhere. Take advantage of our online tools.
In addition to mortgage options, learn your Home Purchase Responsibilities and information to keep you on track throughout your purchase transaction…
