You’ll find HomePath properties all over the country, and at a huge range of price points, because Fannie Mae backs so many loans. What kind of houses are available through HomePath? The mentality is that if the neighbor’s non-REO property sold for $X, Fannie Mae wants to repair their properties and make it as attractive as possible in comparison to that house.”Īs a buyer, a Fannie Mae HomePath house could be your chance to get a great house at or below market value. According to him, once Fannie Mae has foreclosed on a home, “they want to make it as marketable as possible. The homeowner avoids a foreclosure hitting their credit report, and Fannie Mae saves money on legal fees.īoth types of houses can become Fannie Mae HomePath properties, which Fannie Mae wants to sell as soon as possible.Ĭosmo Spellings is an experienced agent in Crestview, Florida, who frequently works with Fannie Mae. The homeowner surrenders the house and walks away. The second is when Fannie Mae offers the previous homeowners a deed in lieu of foreclosure. As the lienholder, Fannie Mae now owns the home. One is if the house has gone through foreclosure and Fannie Mae owned the mortgage on it. There are two situations in which Fannie Mae ends up owning a house. Source: (Dom J / Pexels) What is a Fannie Mae HomePath property?Ī Fannie Mae HomePath property is a house that’s being sold directly by Fannie Mae to an investor or a traditional buyer. These houses might look like a great deal, and some of them are… but what exactly is a Fannie Mae HomePath property? Let’s answer some basic questions so you can decide whether it’s a fit for you. If you’re looking at alternative sellers, you’ll soon stumble across homes dubbed “Fannie Mae HomePath.” That’s not necessarily a bad thing in fact, it can work in your favor because there’s generally less haggling and negotiation. If you’re looking for a cheaper house or a fixer-upper, you could end up dealing with a bank or government agency instead. You might have heard some funny stories about home sellers from your friends and family, but not all home sales happen on the open market between individuals.

“The buyer insisted that we leave the ironing board behind.” “After closing, when we went back to our new home, the sellers had left Grandma behind!”

Fannie may houses for sale