Home Path 1-4 Units

High Balance 

The loan amounts are higher than standard limits. Home Path 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. [table]

Credit score: 700 minimum     (660 available below)
Property type: SFR, Condo, PUD   (2-4 units available, see below)
Occupancy: Primary residence
Down Payment: 10% minimum
Loan to Value: 90%     Max. CLTV: 90%
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:

  • 25% Down, primary residence, 660 score,  1 unit
  • 25% Down, primary residence , 740 score, 2-4 units
  • 35% down, secondary / investments, 660 score,  1 unit
  • 100% Gift allowed on primary single residence only
  • 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 links on right side links for further information and details.

Back to Previous Page

WordPress Video Lightbox Plugin