Fannie Mae offers REOs with 3% Down and No Mortgage Insurance
By Doug Stalker
(Rainmaker Properties)
3% Down - No Mortgage Insurance - No Appraisal Wow! Fannie Mae took a step towards taking their collective heads out of the sand by unveiling an aggressive financing program aimed at their rather vast inventory of REOs. The program allows buyers who will occupy the home as their primary residence to put as little as 3% down and they will finance the home with no mortgage insurance and they will not require an appraisal. Primary Residence Highlights! 1- to 4-unit properties. Fannie Mae/Freddie Mac-eligible condominiums. Planned unit developments (PUDs). Modular homes. Manufactured homes (double-wide only). All properties must be designated by Fannie Mae as eligible for HomePath financing. Down Payment: 3% No Appraisal required Programs offered include 30, 20 & 15 year fixed rates and so...
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