Home Path Loans
Are you interested in buying or investing in a home with very little down?
Are you looking for great financing, with no appraisal?
…then look no further than Home Path by Fannie Mae
- Up to 97% financing for owner occupied, Up to 90% for High Balance Conforming
- Up to 90% financing for 2nd homes, Up to 65% LTV for High Balance Conforming
- Up to 90% financing for investment properties, Up to 65% for High Balance Conforming
- No mortgage insurance (over 80% LTV requires a 660 credit score and additional fee)
- Minimum 620 credit score
- 1 to 4 units, Condo, PUD
- No appraisal required (the sales price will be used to determine value)
- Gifts for down payment, closing costs allowed
- Maximum loan amounts:
1-unit = $417,000
2-unit = $533,850
3-unit = $645,300
4-unit = $801,950
- 10-year, 15-year, 20-year and 30-year fixed-rate terms
- 3/1, 5/1, 7/1, 10/1 ARMs available (3/1 ARMS subject to 95% LTV)
- Borrowers purchasing a 2nd home or investment property with maximum 75% LTV/CLTV can own up to 10 financed properties!
