End of Fannie Mae’s HomePath program indicates healthier home market
The original campaign lowered the down payment for buyers of foreclosed homes.
Oct. 14, 2014
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.
