End of Fannie Mae’s HomePath program indicates healthier home market
Fannie Mae’s HomePath program that provides quick financing for buyers of foreclosed homes has ended. This development signals a healthier housing market. Through the program, buyers who agreed to live in the homes were required to pay only 3 percent down. Those who intended to make a Fannie Mae-owned property their second home made 10 percent down payments, and investors had to put 15 percent down—all less than the standard down payments.
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