What is HomePath ready buyer program?

It is also important to understand what HomePath is.

HomePath allows you to purchase Fannie Mae properties that are about to go foreclosed. Fannie Mae offers a First LookaC/ program to those who are looking to buy a primary residence.

The next question is: How do you get a Fannie Mae HomePath mortgage? To qualify for the HomePath Mortgage your lender will verify your income via W-2s, tax returns, and bank statements. Your credit scores will also be verified via an official credit report. Fannie Mae HomePath eligible properties must also be identified.

Can anyone buy a HomePath home?

Fannie Mae owns HomePath homes. Fannie Mae's Ready buyer program allows you to buy a house with as little as 3 percent down. HomePath are generally more affordable than standard-market houses. However, they are also sold as-is. To purchase a HomePath property, you will need a realtor or real estate agent.

What is the minimum credit score required to get a HomePath mortgage

Fannie Mae provides financing for HomePath properties via its network of mortgage lenders. Fannie Mae generally requires a minimum FICO credit score (620) to be eligible for mortgage loans. However, individual circumstances and down payments may affect the requirements.