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Kentucky Homepath Financing 2012 Fannie Mae Properties in Kentucky

HomePath Financing for Kentucky Homebuyers 2012



	HomePath Mortgage loans have the following characteristics:	HomePath Renovation loans have the following characteristics:
	HomePath Mortgage allows a borrower to purchase a Fannie Mae-owned property with a low down payment, flexible mortgage terms, no lender-requested appraisal and no mortgage insurance. Expanded seller contributions to closing costs are allowed. Benefits to You, the Borrower Low down payment and flexible mortgage terms (fixed–rate, adjustable rate, or interest–only). Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer. No lender-requested appraisal. No mortgage insurance; ask your lender for cost details on loans without mortgage insurance. Expanded seller contributions for closing costs allowed. Available for primary residences, second homes and investment properties. Many condo project requirements are waived; ask your lender for details. For more information, contact a HomePath Mortgage lender or click here for the Home Buyers Guide.	HomePath Renovation Mortgage allows a borrower to purchase a property that requires light to moderate renovation. The one loan amount includes both the funds for the purchase and renovation – up to 35% of the as completed value, no more than $35,000. Benefits to You, the Borrower Low down payment and flexible mortgage terms (fixed- rate or adjustable-rate). Down payment (at least 3 percent) can be funded by the borrower’s own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer. Renovation amount based on appraisal “as completed” value. No mortgage insurance; ask your lender for cost details on loans without mortgage insurance. Expanded seller contributions for closing costs allowed. Available for primary residences, second homes, and investment properties. Many condo project requirements are waived; ask your lender for details. For more information about the renovation process, contact a HomePath Renovation Mortgage lender.

Note: Potential buyers should always use the lender and financing product that best meets the needs of the buyer and property, and should always consider requesting a home inspection of the property. *Ask your lender for cost details for loans with no mortgage insurance.