FNMA Homepath Mortgages for Condos

Dated: 12/09/2012

Views: 1466

FNMA Homepath Mortgages aren't just for condos, but they are a great option if you are looking to finance a condo in today's market.  FNMA Homepath rates are just slighlty higher than FHA rates, but they require NO PMI, and no appraisal. 

The biggest advantage to using a Homepath Mortgage is that they will finance virtually any condo that is owned by FNMA without requiring a condo questionaire.  Traditional lenders require that the condo association complete a detailed questionaire indicating percentage of investor owned properties, delinquent HOA dues, pending litigation etc.  If any one item is over the lender's threshold, they will deny the financing.  This has been a major problem in the current market and has greatly hindered the sale of condos.

FNMA Homepath Financing is available only on FNMA owned Foreclosures.  If you're interested in buying a condo in the Charleston, Mt. Pleasant, Summerville or any of the surrounding areas and would like to be notified when a new FNMA property comes on the market just let us know.  

Charleston Foreclosures

Mt. Pleasant Foreclosures

Daniel Island Foreclosures

Summerville Foreclosures

Goose Creek Foreclosures

North Charleston Foreclosures

Blog author image

Hunter Reynolds

Hunter Reynolds is a full-time Realtor with Keller Williams Realty in Charleston, South Carolina and is Foreclosure and Short Sale Certified. He specializes in residential properties in Charleston, SC....

Latest Blog Posts

Charming Ranch Home in Wescott Plantation for Under $200K

4816 Hearthside Drive, Summerville, SC, 29485 3 Bed  •  2 Bath  •  1,355 sqft This Well-Kept & Charming 3BR/2.5BA Ranch is Located in Wescott Plantation of

Read More

Charming Ranch Home in North Charleston Back on the Market!

2652 Martha Drive, North Charleston, SC, 29405 3 Beds  •  2 Baths  •  1,069 SqFtYour Search for a Low Maintenance Lakehouse Escape just an hour outside of the

Read More

AMAZING VALUE on Stunning Lake View Home in Summerton, SC

1046 Island Court, Summerton, SC, 291484 Beds   •   3 Baths   •   1,400SqFt.$220,000Your Search for a Low Maintenance Lakehouse Escape just an hour

Read More

PRICE REDUCED! On Elegant End Unit Townhome in Wescott Plantation

       4761 Horse Drawn Way, Summerville, SC, 29485 3BR/2.5BA   •   1,875 SqFt.$210,000Welcome Home to this Low Maintenance Move-In

Read More