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Fannie Mae Homepath For Investors
Fannie Mae Homepath For Investors
The Fannie Mae Homepath program is a perfect program for anyone looking to buy a property at this time but it’s a particularly great program for real estate investors. Or someone who is looking to get into real estate investing either as a way to diversify out of the stock and bond market or as just another way to make some extra money. By using the Fannie Mae homepath program the real estate investor can buy Fannie Mae Homepath properties that meet the right criteria and not have to jump through as many hoops as they normally would to buy that same property through the normal process.
Homepath Homes For You
Fannie Mae Homepath Properties
Fannie Mae Homepath Propertie are just everyday houses in probably every city and town in the United States. Some cities will have hundreds and some might only have one or two. It just depends on how well they weathered the real estate crash. Homepath properties are everything from condos, to single family residences to duplexes and four-plexes. During the boom times everyone bought up every house on every block in every neighborhood in America just waiting for the price to go up on the bigger dummy theory. Basically the house wasn’t worth what they paid for it but if they could find a bigger dummy to pay them more for it in a couple of years everything would be great. Only to find out later how sorry they were that they took out those huge adjustable rate mortgages. So this is old news, but after all of these mortgages started to unwind and people started giving back their homes, and every other home in America had a for sale sign in the front yard. Fannie Mae a private company backed by the federal government became the largest holder of mortgages in America. Basically they owned more houses than anyone. So in order to offload some of those homes to homeowners and to investors they came up with the Fannie Mae Homepath Program.
Real Estate Investing
Homepath Financing For Investors
Homepath Financing For Investors is really a great deal. For so many reasons you can get a better deal on a Homepath home than on a typical investment home that you buy as an real estate investor and the only difference in the home is who owns the mortgage.
Homepath Financing Requirements
The requirements for investing in a Homepath home are much less stringent than investing in the same home down the street. That is why the Homepath program is such a great deal for investors. See the list below of the requiements of investors of Homepath properties.
· 10% Down payment for investors compared to the typical 20% required on a normal investment property loan.
No mortgage insurance premium, this can save at least 1% on top of the loan. Since you will be putting less than 20% down.
· The Bad News, Typically Homepath Mortgages have a little bit higher interest rate than what you will typically get in the market but with the other plus factors I think that small factor is worth it.
So If you are looking for your next investment property to add to the many you already have check out this program. Or if you are a beginning investor just starting out getting your feet wet in real estate investing this may be the way for you without putting all of your money down on your first investment property.