Tuesday, October 16, 2012
Fannie Mae recently announced expansion of its Homepath Mortgage product that provides homebuyers and investors financing for the purchase of Fannie Mae-owned properties. The new product will allow eligible individual and LLC borrowers to finance up to 20 properties using the Homepath Mortgage. NAR has long called for expansion of financing opportunities for investors as a way to increase the absorption of REO properties. Fannie Mae will offer flexible lending terms and will not require appraisals of the properties. Visit Homepath.com for more information on the program and participating lenders.