Can an investor buy HomePath?

Can an investor buy HomePath?

Their website, www.homepath.com, offers an online listing of properties for sale in each state. Investors can purchase these properties by paying a low down payment.

How does HomePath program work?

HomePath is an online program through which you can purchase Fannie Mae-owned properties that are going to be foreclosed. Fannie Mae will acquire these properties by a deed-in-lieu—meaning that the homeowner voluntarily gives up ownership of their home to the mortgage company.

Can you negotiate Fannie Mae HomePath?

Through HomePath.com, Fannie Mae sells homes they own that have gone into foreclosure. You can negotiate a Fannie Mae home by making an offer, but as with any home purchase contract, you may lose out to someone who is willing to pay more.

Is a HomePath property a good investment?

If you need a bigger home but you can’t afford a standard-market property, a HomePath property might be the solution. Better condition: Homeowners may give up HomePath homes through deed-in-lieu transfers. This means that HomePath homes are often in better condition when compared to other foreclosures.

How does the Fannie Mae HomePath program work?

The program to sell these homes is the Fannie Mae HomePath program. Fannie Mae uses this program to sell the homes in their inventory. Typically, the homes are for those that will occupy the property only, but investors eventually become eligible to purchase the home.

How do I get financing for HomePath real estate?

Fannie Mae has several financing options to help you purchase HomePath real estate. Fannie Mae loan options are designed especially to help multigenerational home buyers, as well as low- to moderate-income households.

What is the HomePath program?

The HomePath program gives owner-occupiers (home buyers who will use the home as their primary residence) 20 days to act before investors. Investors often gobble up foreclosures before the little guys even know they’re available.