Fannie Mae Retires HomePath Mortgage Programs
|Fannie Mae Retires HomePath Mortgage Programs Effective October 6, 2014, Fannie Mae (FNMA) will retire its HomePath Mortgage and HomePath Renovation Mortgage products. The HomePath.com site, created for realtors working on short sales of Fannie-owned properties, will also be shut down.|
|Homebuyers purchasing Fannie Mae HomePath properties, or with HomePath loans in process with PRM, must:
HomePath Mortgage programs were well known for their low down payment, and no appraisal or mortgage insurance requirements. While Fannie Mae is retiring these programs, they are making some similar financing features available for all loans secured by a Fannie Mae REO property.
Zero Down / Grant programs are still available and Renovation Mortgages are also available, ONLY the Fannie Mae loans on HUD homes has retired. Call your realtor or ask your lender for details on available programs.