HomePath: A Great Option for Buying Your First Home

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The stories continue to dominate the headlines in housing: foreclosures. One entity that owns a lot of homes right now that isn't interested in owning properties is Fannie Mae. So there's an option on many of these homes: some of them qualify for HomePath Financing. This financing is intended to make it easier for some buyers and is only available on Fannie Mae homes.

Within HomePath financing you have a couple of options. Both of them appeal to first time home buyers because of the low down payment and flexible options. Let's take a look at a few of the benefits to HomePath.

HomePath Mortgage

• Low down payment and flexible mortgage terms
• Available to both owner occupants and investors
• Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
• No appraisal required
• No mortgage insurance (Ask a mortgage consultant for cost details on loans without mortgage insurance.)

HomePath Renovation Mortgage

• Financing to fund both your purchase and light renovation
• Low down payment and flexible mortgage terms
• Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit, state or local government, or employer
• No mortgage insurance (Ask a mortgage consultant for cost details on loans without mortgage insurance.)

You can learn more about options for first time home buyers with "The Essential Guide to Buying Your First Home" at the button below. The free guide offers insight on the process from down payments to credit scores. Get your copy today and share with other first home buyers!

>> Bonus! <<

Want to know more about HomePath specifically? We have a free eBook on that as well. Download "The AmeriFirst Buyer's Guide to HomePath" at the button below.