Government
Fannie Mae HomePath
Unlock the door to homeownership with the Fannie Mae HomePath program, designed to make purchasing a foreclosed property easier and more affordable. With flexible qualification requirements and attractive terms starting at 6.25%, HomePath could be your pathway to owning a home sooner than you think. Let CMRE guide you through the process and help you secure your future.
Program Benefits
Purchase a foreclosed property with ease and confidence.
Benefit from a low down payment option.
Potentially save money on renovations and repairs.
Access competitive interest rates, starting at 6.25%.
Take advantage of flexible qualification requirements.
Work with CMRE's expert team to navigate the HomePath process.
Program Highlights
Max LTV
96.5%
Min Credit Score
580
Max DTI
50%
Loan Amount Range
$50K - $1M
Amortization Options
Eligible Properties
- Single Family
- Townhouse
- Condo
Program Requirements
Income Documentation
- •Stable and verifiable income required.
- •Income must be sufficient to cover mortgage payments and other debts.
- •Documentation such as pay stubs and tax returns will be required.
- •Self-employed borrowers may need to provide additional documentation.
Asset Verification
- •Sufficient assets to cover the down payment, closing costs, and reserves.
- •Acceptable asset types include savings accounts, checking accounts, and investment accounts.
- •Gift funds may be allowed with proper documentation.
- •Assets will be verified through bank statements and other financial documents.
Insurance & Title
- •Homeowner's insurance is required to protect the property.
- •Flood insurance may be required depending on the location of the property.
- •CMRE can assist you in finding the right insurance coverage.
- •Proof of insurance is required prior to closing.
Property Requirements
- •Minimum FICO score of 580 required.
- •A credit history demonstrating responsible financial behavior is essential.
- •Recent bankruptcies or foreclosures may affect eligibility.
- •CMRE can help you understand your credit report and identify areas for improvement.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
The Fannie Mae HomePath program is a government-sponsored initiative designed to help individuals and families purchase foreclosed properties owned by Fannie Mae.
The minimum FICO score required for the HomePath program is 580.
The maximum loan-to-value (LTV) for a HomePath loan is 96.5%.
Currently, HomePath loans are typically for primary residences only.
CMRE's experienced team can guide you through every step of the HomePath purchase process, from pre-approval to closing, ensuring a smooth and successful transaction.
Sam K.
Senior Loan Strategist
With over 15 years in the mortgage industry, Sam specializes in complex jumbo and non-qm financing solutions, helping clients navigate unique financial landscapes.
NMLS #12345 | Certified Mortgage Advisor (CMA)
TESTIMONIALS
Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
