Homepath Financing: An alternative to FHA  

Fannie Mae is offering an aggressive loan program called Homepath. With this loan the borrower only needs 3% down (as opposed to 3.5% with FHA loans) and there is NO mortgage insurance (MI) with Homepath Financing. Even better, with Homepath Financing, there is NO appraisal requirement.

So what does this mean to you? Well in our market place we are seeing many buyers who are willing to pay more than list price for a home. But when they get down to the appraisal process, there is a challenge. With Homepath Financing, you have an alternative to FHA. If you feel comfortable offering a higher than list price offer on a home you really want to buy, than there is no issue dealing with an appraiser who doesn’t agree with your opinion of value.  

It’s a win-win for everyone. No appraisal contingencies means you get the house you want, a higher value is established on the home, thus helping to stabilize the overall market values in the area.

To learn more about Homepath Financing as an alternative to FHA, please call the Russo Team. We have loan officers we can recommend who are versed on the process of Homepath Financing. There is a difference when you choose who you are going to work with for your real estate goals: choose wisely, choose the Russo Team.