Expert Jill posted on May 04, 2009 14:45
This special financing is available on Fannie Mae homes.
The benefits include:
* Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)
* You may qualify even if your credit is less than perfect
* Available to both owner occupiers and investors
* Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
* No mortgage insurance*
* No appraisal fees
* Also eligible for HomePath Renovation Mortgage (see details below)
* HomePath Mortgage financing is available from a variety of lenders - both local and national.
To learn more visit www.homepath.com