Fannie Mae Expands HomePath

As of this week, Fannie Mae has announced an enhancement to the company's REO (bank-owned) program, HomePath.com.

Up until recently, HomePath provided owner-occupant buyers a program of 3 percent down, and no mortgage insurance. The expansion now gives home buyers up to 3.5 percent of the sales price to use toward paying transaction closing costs. A home warranty also will be made available to buyers, covering appliances and other items.

This further opens the door for Sarasota home buyers to purchase an exceptionally well priced home in an already aggressive real estate market.