Homepath Renovation Mortgage
HomePath financing, available only on Fannie Mae-owned properties, offers benefits which include a 5% down payment, no mortgage insurance, expanded seller contributions, and more. HomePath Mortgage is available for move-in ready properties. A limited number of HomePath lenders also now offer HomePath Mortgage for the LLC borrower. The HomePath Renovation Mortgage provides both the funds to purchase and to renovate in one loan. You also can use the financing of your choice from any lender, such as your local bank, credit union or other financial institution.
Purchase a HomePath bank owned property and you can add up to $35,000 on to the mortgage for renovation repairs.
*Available as Owner Occupied primary residence or Second home
*Available for Investment Property with 15% down (203k loan is not an option for investors)
*One loan, One closing, One payment to include repairs
*Customize the home your way
*Work to be completed within 6 months from a licensed contractor
*Any repairs or upgrades that add value to the home, such as:
- Energy efficient improvements