Nationwide HomePath & HomeStyle Lender
With a HomePath Mortgage, qualified borrowers can purchase a Fannie Mae-owned property. There are several benefits associated with a Fannie Mae HomePath mortgage, including:
- Low down payment and flexible mortgage terms on any fixed-rate, adjustable-rate, or interest
- The borrower can use a personal savings or a gift, grant, or loan from a nonprofit organization, state or local government, or employer to finance the down payment (at least 3%)*
- Borrowers with less than perfect credit can qualify
- HomePath Mortgages is available to both owner occupiers and investors
- No mortgage insurance required or appraisal fee
New American Funding is an approved HomePath Lender. If you would like to receive more information regarding Fannie Mae HomePath mortgages, contact New American Funding today.
What properties are eligible for the Fannie Mae HomePath mortgage program?
- Primary Residences- include 1-4 unit properties, warrantable condos
- Second Homes- include 1 unit properties, warrantable condos
- Investment Properties- ONLY 1 unit (2-4 unit investment properties are not permitted)
What properties are not eligible for the Fannie Mae HomePath mortgage program?
- Manufactured Homes
- Modular Homes
- Any property not listed on the FNMA (Visit the HomePath website for more information)
New American Funding helps qualified borrowers in most states find the home and financing options that are right for them. With the FNMA HomeStyle Renovation program, New American Funding provides borrowers with:
- An affordable option to renovate or improve a home
- Value efficiency, saving the borrower time and money
- Funding for any permanent repairs or renovations that add value to the property/home
- Flexible offers for purchase and refinance
- Streamlined documentation
- Financing for primary, second home, and investment property
- A max renovation cost of 35% of the ‘as-completed’ appraise value (higher percentages are granted on an exception basis)
For more information, contact New American Funding today using the form to the left.