The HomePath Renovation Loan is a unique mortgage product that buyers can use on to purchase Fannie Mae foreclosure homes. This loan is one of the most powerful products on the market today. Fannie Mae is 'selective' as to who and how many lenders are allowed to offer this product. (You can view the limited number of lenders listed on the "Approved List.")
HomePath Renovation Loan: Pros
HomePath Renovation Loan: Cons
Your "Project Coach" will walk you through the process step-by-step to determine if this loan is for you. It is the most reasonable renovation product on the market today. When you can get these terms and NOT pay mortgage insurance, it is very hard to beat.