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Janet Marasco, Renter in Port Saint Lucie, FL

What is a Fanny Mae Homepath??

Asked by Janet Marasco, Port Saint Lucie, FL Wed Aug 8, 2012

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Fannie Mae is the source of many home mortgages. When one of their loans results in Foreclosure, the home is listed with an agent and advertised as a Fannie Mae Homepath Home. These homes have special financing available, typically with only 3% down payment required, the appraisal waived and up to 3% in Seller paid concessions toward closing costs.
If you are tight on down payment and closing costs and run across one of these homes they may be a good option to consider. In some cases they have done some upgrades or repairs, but still may need additional work.
I've attached a link to the Fannie Mae website so you can learn more about it. Best of luck.
2 votes Thank Flag Link Wed Aug 8, 2012
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