A visit to the website will guide you to all the information needed about this mortgage program. Most homes have low down payment requirements and Home Path lenders will work with people that do not have perfect credit scores. These mortgages have very low interest rates and low qualifications.
is a FannieMae website that lists homes for sale that are held by FannieMae and provides contact information of lenders in your area that specialize in Home Path financing. However, with the recent rise in foreclosures, FannieMae has established a program with lenders throughout the country that allows special mortgage financing on FannieMae owned homes. Mortgage RatesįannieMae does not directly lend money to the public. However, if a home enters foreclosure that was backed by FannieMae financing, FannieMae assumes ownership of the foreclosed property. The affordable housing division does include apartment homes, only if the apartments are going to provide an affordable alternative to housing in the area it is to be constructed.įannieMae does not issue any type of loans or funding to the public. FannieMae does not deal in any form of commercial or business real estate. They service three distinct areas of real estate: Single family homes, affordable housing and multi family units. In 2008, FannieMae went into an agreement with the United States Treasury Department to accept funds from the treasury in the event that any mortgage deficits needed to be corrected.įannieMae is geared to keeping housing affordable. FannieMae is funded by selling debt securities. The sole purpose of FannieMae is to provide banking institutions, and other mortgage companies, a way to keep mortgages available and affordable on the market. Mortgage Lenders, Brokers and CompaniesįannieMae is a government sponsored entity that was created in 1938 as a way to add stability to the housing market.
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