• What is HomePath || Info on Fannie Mae Homepath Foreclosures

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    HomePath is Fannie Mae’s nationwide foreclosure program. During the recent housing market crash, Fannie Mae was left with thousands of homes that were going into foreclosure. To deal with all of these homes efficiently, Fannie Mae put a lot of effort into redoing their whole foreclosure system. The result is a surprisingly efficient system that has some very good benefits if you’re looking for a good deal on a new house.

     

    Core Features/Benefits

    • Easily searchable – Database of current foreclosures in your area is kept up to date and easily searchable on Homepath.com
    • Receive email notifications for news for your area – Just create a free account on HomePath.com and they will send you daily updates on new homes and price changes in your area.
    • Financing – HomePath works with a large list of possible lenders and offers several benefits like 3% down payment, no mortgage insurance requirement, and additional financing for home renovations (HomePath Renovation Mortgage)
    • First Look for non-investors – If you are not buying the home as an investment and are willing to commit to living in the house for at least 1 year, you can have 14 days of early access to new listings before investors are allowed to make a bid on them. (First Look Program)

     

    Overall, Fannie Mae’s HomePath system can offer a lot to potential new home owners. If you’re willing to look at foreclosures, definitely take a look at HomePath.com!