There are incentive of buying a property under Home Path. You are not required to use HomePath Financing, however if you do, there is no appraisal, there is no mortgage insurance if you don't put 20% down, which means your monthly payment will typically be lower, and I've had clients who were able to get Fannie Mae to do some repairs for properties. Speak with a lender who is experienced with Fannie Mae Home Path, and I'm sure they would be able to give you the pro's and con's of the various programs that are available to you.
The Federal Savings Bank
Yes, there are many advantages such as low interest rates, down payment assistance, rehab loan, warranties, etc.
Sohail A. Salahuddin | Broker Associate I Visionary
Innovative Property Consultants Team l Sales and Leasing
Jameson Sothebyâ€™s International Realty
425 W. North Ave. | Chicago, IL 60610 â€¨
O: 312.929.1565 | C: 312.437.7799 | F: 847.805.6030
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