Homepath information obtained online 2025

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The document is a notice to buyers of HomePath properties, outlining key information regarding appraisals, title transfer, and home inspections. It emphasizes that lenders will only consider the sale price for loan approval and advises buyers to obtain independent appraisals and home inspections at their own expense. The notice also clarifies that Fannie Mae will execute a quitclaim deed upon purchase but does not guarantee the title's freedom from other claims, recommending buyers secure title insurance.

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What does it mean if a home is a Fannie Mae HomePath property?

A HomePath property is a property that was owned and sold by Fannie Mae through a transaction resulting in the disposition of its real estate owned (REO).

How do you qualify for Fannie Mae HomePath?

How do you qualify for a Fannie Mae HomePath property? In order to qualify for a HomePath home with the 3% down payment and matching closing cost assistance, you cant have owned a house within the last 3 years and youre required to use the property within 60 days after closing as your primary residence.

Can anyone buy a HomePath property?

The loan can help buyers with bad credit obtain mortgages. But these loans arent available to everyone. To qualify for a Fannie Mae HomePath loan, you must not have owned a house in the past 3 years. And you must use the HomePath property as your primary residence within 60 days after closing.

How do you qualify for a HomePath?

To qualify for a Fannie Mae HomePath loan, you must not have owned a house in the past 3 years. And you must use the HomePath property as your primary residence within 60 days after closing.

Who is eligible to buy a HomePath property?

Who is eligible for HomePath? To be eligible to buy a HomePath property, youll need to live in the property as your primary residence within 60 days of closing. If youre not paying cash, youll also need to qualify for a mortgage to buy the home.

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What are the disadvantages of buying a Fannie Mae HomePath property?

Disadvantages Of Fannie Mae HomePath You may need to complete costly repairs before your new home is move-in ready. Cant buy with contingencies: Fannie Mae doesnt accept offers contingent on selling your current home. That can make things tricky for buyers who need to buy and sell at the same time.

Homepath information obtained online 2025

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What does it mean if a home is a Fannie Mae HomePath property?

How do you qualify for Fannie Mae HomePath?

Can anyone buy a HomePath property?

How do you qualify for a HomePath?

Who is eligible to buy a HomePath property?

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What are the disadvantages of buying a Fannie Mae HomePath property?

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