The HomePath Mortgage was a conventional loan option that let buyers purchase a Fannie Mae–owned foreclosure property with reduced requirements compared to a standard conventional mortgage — including no lender-required appraisal in many cases. Fannie Mae discontinued the special HomePath financing program in 2014; Fannie Mae–owned homes are financed today with regular conventional, FHA, or other standard mortgage products.
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What to Use Instead Today
If you're interested in a Fannie Mae–owned foreclosure property today, you can still find listings at HomePath.com, but you'll finance the purchase with a current mortgage program based on your down payment and credit profile:
- HomeReady Mortgage — a conventional 3% down program for income-qualified buyers.
- HomeStyle Renovation Loan — finance home repairs and improvements into your mortgage, useful for foreclosure properties that need work.
- FHA Loan — down payments as low as 3.5% with flexible credit guidelines.
For more information on financing a Fannie Mae–owned or foreclosure property in Michigan, call us at 1-800-555-2098 or apply online.
Buying a Fannie Mae-owned home in Michigan?
HomePath's special financing has ended, but HomeReady, HomeStyle Renovation, and FHA options can still get you into the home. Talk to a licensed loan officer today.
Apply Now 800-555-2098