Frequently Asked Questions

FAQ

How do I make an offer on HomePath?

Homepath.com

1. Locate the property you're interested in by using the Search for a home box located on the Home page.
2. Once you've located the property, click the property address link or the ONLINE OFFER logo to access the listing details page.
3. Click the button on the details page to proceed with your offer.

How do you find the listing price of a house?

Determining a good list price is typically based on a variety of important considerations, including your home's location, the final sale price of comparable homes in your area and also the current market conditions. Another consideration that factors into establishing a list price is the condition of your home.

What is the existing home sales in the US?

US Existing Home Sales is at a current level of 4.04M, down from 4.07M last month and down from 4.77M one year ago. This is a change of -0.74% from last month and -15.30% from one year ago. US Existing Home Sales reflects the total unit sales of US homes that are already built.

How do I find comps in my area?

Real estate agents can perform a sophisticated comparative market analysis to identify comps very precisely. But you can also find general comps yourself by looking online for recent sales in your neighborhood, finding the homes most similar to yours, and checking prices to see how much they sold for.

Is MLS more accurate than Zillow?

If you are able to view the MLS in your area online directly, you will only see properties that are currently active on the market. This makes the MLS more accurate than Zillow, which frequently keeps properties listed as available long after they have been taken off the market.

How to buy Fannie Mae HomePath property?

Here are the five steps for buying a Fannie Mae HomePath home.

1. Get Pre-Approved To Buy A Home.
2. Find a HomePath property on the Fannie Mae website.
3. Hire a real estate agent to represent your offer.
4. Complete an approved mortgage education course.
5. Submit and negotiate your offer to purchase.

Where to get all past real estate transactions

How do you qualify for a HomePath?	Hear this out loudPauseIn order to qualify for a HomePath home with the 3% down payment and matching closing cost assistance, you can't have owned a house within the last 3 years and you're required to use the property within 60 days after closing as your primary residence.
Can you buy houses from Fannie Mae?	HomePath homes are foreclosures owned by Fannie Mae. Fannie Mae's Ready Buyer™ program can help you buy a home with as little as 3% down for first-time home buyers. You may even qualify for up to 3% in closing cost reimbursement.
What does it mean if Fannie Mae owns a house?	There are two situations in which Fannie Mae ends up owning a house. One is if the house has gone through foreclosure and Fannie Mae owned the mortgage on it. As the lienholder, Fannie Mae now owns the home. The second is when Fannie Mae offers the previous homeowners a deed in lieu of foreclosure.
Can anyone get a Fannie Mae loan?	Because it's intended to help clients with low-to-moderate incomes, those on the loan can't make more than 80% of the area median income between them. Fannie Mae does have an option to have 3% down without income limits, but at least one client must be a first-time home buyer.
What does it mean when a property is owned by Fannie Mae?	Key Takeaways. Fannie Mae HomePath properties are foreclosed properties owned by Fannie Mae. HomePath homes come with a variety of perks, such as lower price points and special financing options. Because the homes are foreclosures, they may need repairs.
Does Fannie Mae negotiate on foreclosures?	Can you negotiate Fannie Mae HomePath? Through HomePath.com, Fannie Mae sells homes they own that have gone into foreclosure. You can negotiate a Fannie Mae home by making an offer, but as with any home purchase contract, you may lose out to someone who is willing to pay more.

• What is a Fannie Mae reo?
  • Cash-strapped buyers or house flippers often turn to foreclosures to purchase a home at a discount. One way to do this is through Fannie Mae's HomePath® program, which makes Fannie Mae's real estate-owned (REO) property available for buyers to purchase.
• Is my home loan owned by Fannie or Freddie?
  • We encourage you to contact your servicer (often your bank or lender) to verify that your mortgage loan is owned or guaranteed by Fannie Mae or Freddie Mac, or you may verify it yourself by accessing the following websites: Fannie Mae www.KnowYourOptions.com/loanlookup, Freddie Mac www.freddiemac.com/mymortgage.
• Can investors buy Fannie Mae properties?
  • Properties listed as First Look are available to individuals who plan to make the home their primary residence only. Other properties are available for purchase by everyone, including investors, vacation home buyers, and speculators.
• How to purchase a home owned by Fannie Mae?
  • You must have a real estate agent or REALTOR® to buy a HomePath home. You must also complete Fannie's Ready Buyer™ online course before you submit an offer for a HomePath home. Buying a foreclosure comes with risks, including no guarantee of the home's condition.
• Can you negotiate Fannie Mae HomePath?
  • Can you negotiate Fannie Mae HomePath? Through HomePath.com, Fannie Mae sells homes they own that have gone into foreclosure. You can negotiate a Fannie Mae home by making an offer, but as with any home purchase contract, you may lose out to someone who is willing to pay more.
• Do all mortgages get sold to Fannie Mae?
  • Fannie Mae is happy to buy mortgages from lenders — but not every mortgage. For Fannie Mae and Freddie Mac to be able to re-sell loans, they need to be considered safe investments. That means each mortgage must meet certain requirements or “guidelines.” Fannie Mae guidelines run more than 1,200 pages.