Fannie Mae HomePath Mortgage

Recently more and more people are looking into buying bank owned properties in Nashville Tennessee (foreclosed). It is very simple why the most financially savvy people are doing it…… PRICE! Most bank owned properties can be purchased below the appraised value of the property. Banks are looking to unload their inventory of foreclosed homes in Nashville and in other parts of the country. A few programs are available to purchase these properties. One such program is called Fannie Mae HomePath. One difference with this programs compared to other programs for foreclosed homes is this…… you don’t need an appraisal and you don’t have private mortgage insurance. To benefit from this, you must get a HomePath Mortgage. Not every lender is eligible to provide these types of mortgages compared to an FHA or a Veteran Home Loan. The HomePath Mortgage is not required but to receive the full benefit of these properties, it would be recommended. Not only can we offer you this mortgage, I would like to give you a few benefits of this loan.

* Low Down Payment = only a minimum down payment of 3% of the asking price is required. The down payment can even be a gift! (ask me how)

* No Lender Require Appraisal

* No Mortgage Insurance (PMI) = You won’t have to purchase the costly PMI like other loans when you finance more than 80% of the home. You could possibly save thousands on this alone.

To search for a HomePath home you must go directly to this site: Fannie Mae HomePath

It is best that you get pre-qualified first before you place an offer on any of these properties. To learn more about this amazing program and to get an idea of what you qualify for, fill out the form below. I will contact you ASAP!