Fannie Mae Purchase 3% Down Program Details (HomePath Mortgage)

Maximum Loan Amount:

Program Qualifications

Borrower Investment

No minimum borrower investment required for:

Entire investment from borrowers own funds required for the following:

Appraisal Requirements:

No appraisal is required.
The sales price of the property (as evidenced by the sales contract between Fannie Mae and the buyer/borrower) will be used as the property value for purposes of loan delivery and for determining the LTV/CLTV/HCLTV.

If the borrower, at its option, chooses to obtain an appraisal, then:

Fannie Mae Purchase 3% Down requires delivery of property data such as the number of bedrooms and year built on the HomePath product. Since the HomePath product does not require an appraisal, it will be necessary to print out the property information containing the number of bedrooms and year built and rental income, if required, from Fannie Mae’s HomePath website: