The Fannie Mae Home Path program allows home buyers to buy homes that are considered real estate owned by the mortgage institution. Borrowers who qualify for the program can expect to pay very little in interest rates, very little money down and little to no closing costs. The requirements to qualify for the program remain minimal, so potential borrowers who would like to buy a home have this wonderful option. One thing to keep in mind, Fannie Mae owns the home so you would need to meet some requirements for qualification, but the requirements are minimal compared to Fannie Mae Owned conventional programs.
Some Basics Behind Home Path
There are some great benefits offered by the Home Path program. First of all, buyers do not have to carry mortgage insurance. This benefit saves the borrower thousands of dollars on monthly payments throughout the life of the loan. The program expands the amount of seller contributions that are made to keep closing costs at a minimal for the borrower. Home Path offers funds for both the purchase and the renovation of the property. Most conventional loans do not have these types of benefits. You can choose whatever lender you desire which allows flexibility when searching for the perfect rate and term.
Look to Centex Capital for Mortgage Answers
We are a mortgage leader throughout the State of New York. Our team of experts helps guide you through the Fannie Mae Home Path program. If you are unable to find the right lender offering the program, we will find the right lender through our large network. We specialize in working with borrowers who have limited funds for a purchase or refinance. Talk to our team today and find out how they help find you the perfect Home Path mortgage.
Contact us at (800)842-2910.