Mortgage Brokers Using Home Path to Finance More REOs in California

Posted by Jason Wheeler | Subscribe

Right now I have countless home buyers asking me and applying for the California Home Path Programs. This is a great program and will help Fannie Mae get rid of many of the REOs that are sitting on their books in the Contra Costa East Bay Area.

HomePath Mortgage in California 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. Currently Fannie Mae is offering up to 3.5% of the purchase price as credits towards borrowers closing costs on a property.

What few people know is that you can even use this program to finance renovations to a property that you would like to buy and make repairs to. Did you know you can get Fannie Mae to give you up to $35,000 to repair a HomePath property you are in contract to close on and buy?! That is right! Fannie Mae will GIVE you money to make repairs on your new home in California.

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Download the HomePath Renovation Details Here and share it with your borrowers and clients.

You Can learn all the details of the HomePath program in California and read more here ====>

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Until Next time Here is to your success! Jason Wheeler