Foreclosure
Fannie Mae, the agency sponsored by the U.S. government to help make housing more affordable to all Americans, now offers HomePath, a special new home loan to finance the sale of its current real estate owned (REO) properties across the country.
Lower down payments and relaxed requirements mean more home shoppers can become home buyers. HomePath helps you sell more homes!
Prospect Mortgage is among a select group of mortgage lenders nationwide who can offer the HomePath loan to get your clients into one of these foreclosed properties.
Here are the key benefits of a HomePath Mortgage Loan:
- Only 3% down required on a primary residence property
- No mortgage insurance required
- No property appraisal required
- Only 10% down on 1-2 unit investment properties
- Get up to 6% in seller concessions on primary residence properties
In addition to being one of the few lenders approved to offer the HomePath loan, we’re experts with REO transactions. I have been specially trained to handle the specific financial requirements of an REO transaction. I’ll keep the process smooth and stress-free, for you and your clients.
Search for Fannie Mae REO properties eligible for HomePath financing at: http://reosearch.fanniemae.com/reosearch/
Eric Storm
803-517-8791
