Home Path 1-4 Units

Home Path Mortgage allows a buyer to purchase a Fannie Mae-owned property with a 3% down payment. No lender-requested appraisal and no mortgage insurance. This is only for Fannie Mae-owned properties.


Credit score: 620 minimum
Property type: SFR, Condo, PUD   (2-4 units below)
Occupancy: Primary residence
Down Payment: 3% minimum
Loan to Value: 97%     Max. CLTV: 97%
Gift Funds Allowed. No minimum buyer contribution required.
Closing cost: Seller and/or lender can pay up to 6%
Debt Ratio: 45%     with compensating factors up to 50%


Additional Notes:

  • 20% Down, primary residence, 2 units
  • 25% Down, primary residence , 3-4 units
  • 10% down, secondary home or  investment, 660 score,  1 unit
  • Lender –paid closing cost available
  • Condos do not need to be reviewed for eligibility
  • No Appraisal report required
  • Secondary Financing, Gifts, and Grants allowed
  • No Mortgage Insurance regardless of down payment
  • Bankruptcy 4 yrs, Foreclosure 7 yrs, Short Sale 4 yrs.
  • 2 Mos. reserves on Secondary, 6 Mos. on Investment

This page contains program highlights only. See sidebar links for further information and details.

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