The main benefits to HomePath Mortgages is lower loan level price adjustments which result in lower rates and fees as well as up to a $500 appraisal credit.
A HomePath Mortgage is a conventional mortgage loan option available through many banks and mortgage companies that allows a home buyer to buy a Fannie Mae owned home with less requirements compared to a standard conventional mortgage. HomePath home loans are only available on foreclosed homes owned by Fannie Mae whom hires local real estate agents to prepare, maintain and market their HomePath homes for sale.
Buy a home with No Appraisal, No mortgage insurance (no PMI), and a low down payment. This loan option is not available through all banks and mortgage companies.
For more information on Michigan HomePath Mortgage loans from Riverbank, call us at 1-800-555-2098 or apply online today!