Fannie Mae Homepath loans
fannie mae homepath mortgage

Fannie Mae HomePath® Rates, Loans, and guidelines.

 

Fannie Mae HomePath ® Fixed Rate and Libor Arms to 417K

 

Primary Residences - NO appraisal required - NO PMI

 

Property Type

Max LTV - no secondary financing

Max LTV- with secondary financing

Max CLTV

With secondary financing

Max HCLTV

Minimum Credit Score

Single family

97%

97%

97%

97%

660

Duplex/2 unit

80%

80%

80%

80%

620

Multi family

75%

75%

75%

75%

75%

 

 

 

 

 

 

***Multi Family dwellings up to 4 units max.  Owner Occupied only.

***Owner Occupied and Second Homes in West Virginia require an exterior appraisal at a minimum unless DU requires a full appraisal

***No Fannie Mae HomePath Renovation Loans

 

Fannie Mae HomePath ® Fixed Rate and Libor Arms to 417K

 

 

Second Homes - NO appraisal required - NO PMI

 

Property Type

Max LTV - no secondary financing

Max LTV- with secondary financing

Max CLTV

With secondary financing

Max HCLTV

Minimum Credit Score

Single family

90%

90%

90%

90%

660

Single Family

80%

80%

80%

80%

*620*

Duplex/2 unit

Not allowed

Not allowed

Not allowed

Not allowed

N/A

Multi family

 

 

 

 

 

 

 

 

 

 

 

***No Fannie Mae HomePath Renovation Loans

 

 

Fannie Mae HomePath ® Fixed Rate and Libor Arms to 417K

 

 

Investment Property - NO appraisal required - NO PMI

 

 

Property Type

Max LTV - no secondary financing

Max LTV- with secondary financing

Max CLTV

With secondary financing

Max HCLTV

Minimum Credit Score

Single family

85%

85%

85%

85%

660

Single Family

80%

80%

80%

80%

*620*

Duplex/2 unit

75%

75%

75%

75%

620

Multi family

75%

75%

75%

75%

620

 

 

 

 

 

 

 

 

 

 

 

 


***No Fannie Mae HomePath Renovation Loans

Fannie Mae HomePath® Rates and underwriting guidelines for Fannie Mae foreclosures.  Get Fannie Mae HomePath® Loan rates and guidelines for Illinois, Iowa, Michigan, Ohio, New York, Maryland, Texas, Arizona, Nevada, California, Georgia, Virginia, Florida and the rest of the US.  Fannie Mae HomePath® Financing provided by Emery Federal Credit Union at A+ Better Business Bureau rating.  Fannie Mae HomePath mortgage rate quote form below underwriting guidelines.

Fannie Mae Homepath guidelines

Fannie Mae’s HomePath® Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed.  Loan Closings take place in 1 week or less depending on title.  Fannie Mae pays 3.5% of closing costs for Primary.  

 

Fannie Mae HomePath® Benefits to You, the Borrower

Low down payment and flexible mortgage terms (fixed–rate, adjustable)

Down payment can be funded by the borrower’s own savings; a gift; a grant.

No lender-requested appraisal.

No mortgage insurance;  

Expanded seller contributions for closing costs allowed.

Available for primary residences, second homes and investment properties.

Many condo project requirements are waived; ask your lender for details.

 

Fannie Mae HomePath® underwriting guidelines matrixes for occupancy requirements, property type, down payment requirements, limits on secondary financing, credit score requirements, and requirements for condos.

fannie mae homepath mortgage
fannie mae