Can I Buy a Home Directly from Fannie Mae?
Yes, you can buy a home directly from Fannie Mae. Fannie Mae is not only a home mortgage company, it also offers property for sale itself. If borrowers default on their Fannie Mae loans, Fannie Mae can take control of their property. That property is then listed on its website HomePath.com, through which Fannie Mae allows homebuyers and investors to search for, evaluate, and purchase Fannie Mae-owned properties.
Purchasing these type of REO properties is often less expensive than buying from homeowners because the properties were seized after a mortgage default. As such, Fannie Mae aims to sell the property quickly.
- What Is a Fannie Mae or Freddie Mac Loan?
- What Is the Difference Between a Legal and an Equitable Mortgage?
- What Are the Requirements of a Fannie Mae or Freddie Mac Loan?
- What Are Fannie Mae and Freddie Mac?
- What Is the Difference Between Fannie Mae and Freddie Mac?
- What Is the Purpose of Fannie Mae and Freddie Mac?
- What Is a Jumbo Loan or a Super Jumbo Loan?
- What Is a Reverse Mortgage?
- What Is the Difference Between a Registered Mortgage and an Equitable Mortgage?