Breaking News: Fannie Mae announced HomePath Financing Changes!

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Real Estate Agent with Berkshire Hathaway HomeServices 01238708
http://actvra.in/J6H

 Breaking News Fannie Mae announced HomePath Financing Changes.

Fannie Mae announced that HomePath Mortgage which is currently available to low to middle income first time buyers will be allowing Investor financing to purchase Fannie Mae owned properties.

This new Mortgage Product will allow eligible individual and LLC borrowers to finance up to 20 properties using the Homepath Mortgage products.

Fannie Mae will offer flexible terms as well as they will not require appraisals

http://www.homepath.com/

HomePath Renovation Mortgage is also available and will allow a buyer to purchase a property that requires light to moderate renovation. The one loan amount includes both the funds for the purchase and the renovation. Basically up to 35% of the completed value, but no more than $35,000. This will be available for owner occupied borrowers as well as investors.

Endre Barath, HomePath Realtor

The First look incentive will allow owner occupants and nonprofit organizations the first fifteen days to purchase the property. If the First Look buyers do not buy the property, than Fannie Mae will open it to investors to have the opportunity to purchase the property

 

. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, Brentwood, Bel Air, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at310.486.1002or email me at homes@endrebarath.comor visit one of my websites athttp://www.endrebarath.comYour Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.

 

 

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  1. Joyce Kelley 03/29/2013 02:02 PM
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Jennifer Fivelsdal | Call 845-758-6842 Helping you achieve your real estate goals
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Endre sound like these changes could be helpful, time will tell.

September 25, 2012 09:49 PM
Rainmaker
961,781
Endre Barath, Jr.
Realtor - Los Angeles Home Sales 310.486.1002
Berkshire Hathaway HomeServices

Nick, yes it is a great idea to move the ones that have been there a long time, best part is now the investors can actually jump in vs. before they were sidelined for lack of incentives.

Jennifer it will be helpful without a doubt provided they do not create a paper quagmire for investors!

September 26, 2012 08:03 AM
Rainmaker
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Michelle Cooks
Pensacola, Pace & Gulf Breeze Property Management
Charles Stallions Real Estate Services

I would think this will mork to unload a lot of the properties out there. Thanks for enlightening us.

September 26, 2012 08:11 PM
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Michelle Carr-Crowe Just Call 408-252-8900 Luxury Homes in Top Silicon Valley Schools-San Jose, Cupertino, Saratoga & Palo Alto
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Thanks for keeping us updated on these changes with HomePath.

September 30, 2012 01:23 PM
Rainmaker
961,781
Endre Barath, Jr.
Realtor - Los Angeles Home Sales 310.486.1002
Berkshire Hathaway HomeServices

 Charles we can all benefit if they get rid of the inventory that has been sitting around for a while!

Michelle my pleasure!

September 30, 2012 01:27 PM
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