Utah Homepath Homes and Financing
Most people have heard of the mortgage giant Fannie Mae. What most people don’t know is that they too end up foreclosing on homes and owning them. They are not in the business of owning homes so they have created the Homepath program to help them get their foreclosed homes sold.
This is a fantastic program that will allow you to get a better than average mortgage deal:
- If you will occupy the home, you only need a 3% down payment
- 15 and 30-year fixed rate and 5/1, 7/1 LIBOR ARM
- Eligible properties must be owned by Fannie Mae, sold by Fannie Mae and designated by Fannie Mae as eligible for a HomePath Mortgage (See below for Homepath Homes in Utah)
- There is NO mortgage insurance!
- No condo or PUD warranty required
- Investors can buy this with only 15% down
- Second home with only 10% down
- No appraisal fee!
- You pick your own title company
- They have the standard Homepath loan and the Renovation loan. If the home needs repairs, Fannie Mae will loan you the money to make these repairs.
- Up to 6% seller contributions on Primary Residence and Second home
- Minimum FICO 620
- Gift funds can be used for entire down payment in some circumstances
RedSign agents are experts when working with Homepath homes and have partnered with a lender who can provide all types of Homepath financing options.
Search Homepath Homes
You can search for Homepath homes using the pages below that are updated daily! Contact us if you have any questions regarding Homepath homes or the several financing options.
