Fannie Mae's HomePath Provides Special Financing on Foreclosed Properties

Fannie Mae has gotten into the foreclosure game with a program called Homepath. The program provides special financing on select foreclosed properties from certain lenders. Fannie Mae has set up a website at where it lists properties that are participating in the program. I checked Massachusetts and there were hundreds of condos and houses available.

The benefits of the program are:

  • 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.

Find lenders with the best mortgage rates and find out more about a HomePath® Mortgage by checking lenders on the BestCashCow mortgage rate tables.

Sam Cass
Sam Cass: Sam Cass, MBA, JD, University of Texas at Austin. Always a fan of Leonardo Da Vinci.

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  • Anonymous

    December 25, 2009

    HomePath is financing that's available on Fannie Mae-owned properties, not properties that are offered by some lenders. If Fannie Mae is the investor in a property that goes into foreclosure, then Fannie Mae owns the property. They sell their properties through traditional retail channels -- all Fannie Mae-owned properties that are listed for sale can be found at As for the financing, Fannie Mae offers two types -- HomePath Mortgage and HomePath Renovation Mortgage. Properties eligible for this financing can be identified by looking at the property at -- if it has a "HomePath Mortgage" or "HomePath Renovation Mortgage" logo next to it, it's eligible for financing. There are a number of lenders across the country who offer HomePath financing -- a list can be found at under the "Financing" tab.

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