Are you wondering how long it takes to get a response on a HomePath® offer? After submitting a bid correctly through the Online Offers system, real estate agents should receive a confirmation from HomePath.com, generally, within 24 hours.

Is Fannie Mae HomePath a good deal?

Fannie Mae’s Ready BuyerTM program can help you buy a home with as little as 3% down for first-time homebuyers. HomePath homes are usually more affordable than standard-market homes, but they’re also sold in as-is condition.

Can you buy a HomePath home with FHA loan?

What is a HomePath home? These are Fannie-Mae-owned properties. Assuming the property is in tip-top shape, you may also use other types of loans to finance your home purchase, like an FHA loan or a VA loan. However, there are certain benefits of choosing a HomePath Mortgage to finance a HomePath property.

Can I buy a house directly from Fannie Mae?

Fannie Mae does not directly sell homes; it only sell homes through real estate brokers. Fannie Mae lists its homes on a Web site called Homepath.com. But buyer beware: Buying a Fannie Mae home is different than a traditional private sale. Fannie Mae’s homes are available to owner occupants as well as investors.

When can I make an offer on a HomePath property?

For the first 20 days that a HomePath property is on the market, only people who plan on living in the home may put in an offer. After 20 days, investors and contractors can place offers, too. However, that doesn’t mean you shouldn’t try to offer on a Fannie Mae property that’s been on the market longer. They always prefer owner-occupied offers.

What is HomePath and how does it work?

What Is HomePath? HomePath is a Fannie Mae program that can help you move into a foreclosed home with financial assistance. You may be able to buy a home with a down payment as low as 3% down when you take a HomePath conventional mortgage. You may also qualify for closing cost reimbursement equal to up to 3% of what you pay for your property.

Can I buy a HomePath property without a realtor?

First, you cannot buy a HomePath property without a real estate agent or REALTOR®. Fannie Mae accepts offers from only Fannie-approved listing agents, but a local real estate agent can help you submit an offer through the correct channels. Your agent must submit an offer online and work on your behalf.

Is the HomePath ready buyer program right for You?

Major real estate investor Fannie Mae’s HomePath Ready Buyer™ program allows potential homeowners to buy a foreclosed property with as little as 3% down with up to 3% closing cost assistance. If you want to buy a home but can’t afford a standard-market property, choosing a HomePath home might be right for you.