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Fannie Mae Homepath Mortgage Loans

Fannie Mae HomePath Mortgage in Michigan.

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.

NEW PROGRAM: Buy a home with a HomePath Renovation Mortgage and finance home improvements up to $35,000! The perfect rehab loan option for owner occupants and even investors.

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!

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    What are the Benefits of HomePath Mortgage Loans?

    The main benefits to HomePath Mortgages is the waived requirements for an appraisal and mortgage insurance (PMI). Because Fannie Mae already owns the property, they allow home buyers with HomePath Financing to buy a home without the extra need for a lender appraisal. Additionally HomePath Mortgage do not have PMI which makes the monthly mortgage payments substantially less than standard conventional loans.

    • No lender-required appraisal
    • As of November 16, 2013, HomePath loans require at least a 5% down payment that can be funded by your own savings, a gift, a grant; or a loan from a nonprofit organization, state or local government, or employer.
    • Available for primary residences, second homes and investment properties.
    • Flexible mortgage terms (fixed-rate, adjustable rate, or interest-only)
    • No mortgage insurance (PMI).
    • Low mortgage rates.
    • Seller paid closing costs allowed.
    • Many condo project requirements are waived; ask your lender for details.
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    How do I apply for a HomePath Mortgage in Michigan?

    Riverbank Finance LLC offers HomePath Mortgage Loans through several of its investors. To get started simply complete the form below or call 1-800-555-2098 to speak with a loan officer today.

    After applying for a Michigan HomePath Loan, a loan officer will contact you to ensure that you are eligible for a HomePath Mortgage. They will help to review income, assets and credit. If everything looks good they will issue you a Mortgage Pre-Approval to buy a home with a HomePath Loan.

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