HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed.

Benefits to You, the Borrower

·         Low down payment and flexible mortgage terms (fixed–rate, adjustable rate, or interest–only).

·         Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer.

·         No lender-requested appraisal.

·         No mortgage insurance; ask your lender for cost details on loans without mortgage insurance.

·         Expanded seller contributions for closing costs allowed.

·         Available for primary residences, second homes and investment properties.

HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed.

Benefits to You, the Borrower

·         Low down payment and flexible mortgage terms (fixed–rate, adjustable rate, or interest–only).

·         Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer.

·         No lender-requested appraisal.

·         No mortgage insurance; ask your lender for cost details on loans without mortgage insurance.

·         Expanded seller contributions for closing costs allowed.

·         Available for primary residences, second homes and investment properties.