I continue to be impressed at Fannie Mae’s willingness to find creative ways to get more real estate investors into more investment properties in an effort to stimulate our suffering housing market.
Fannie Mae has created a new investment property financing program called Fannie Mae Home Path. This program allows the real estate investor to purchase properties owned and backed by Fannie Mae (properties that are bank owned by Fannie Mae due to a previous foreclosure) at a 10% down payment with no appraisals or mortgage insurance required.
Not all Fannie Mae bank owned properties will qualify. To find out if the property you are interested in purchasing is approved for the program, please go to 10% Down Fannie Mae List.
A similar program is likely to come out for Freddie Mac. I am excited to see the government continue open up more doors for the real estate investor. If you would like more information about this program, feel free to contact me at 952-808-2820.
Rob Bonahoom
Mortgage Coach
1 response so far ↓
1 Dennis Powning // Dec 23, 2009 at 6:05 pm
I think I made a huge mistake. In order to move myself to the front of the line, from the banks perspective, I made a cash offer on a house (investment ). After the fact, I find out I have to wait 6 months to finance it, and now find out that the six month delay means that I cannot deduct the interest if I do finance it. GOOD GREIF!
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