Homepath Financing on FNMA REO's

Homepath Financing on FNMA REO's: "Investment Properties
The HomePath program is perhaps the only program that allows for the purchase of investment properties with as little as 10% down (only singles and 2-units; 3-4 require 25%). This really opens a door that has been closed for a while as there appears to be many interested in acquiring real estate as an investment but the down payment is a hurdle. Under this program the current limit of not more than 4 properties financed by same borrower with Fannie Mae is expanded to the “old” 10 unit rule. Note that after 4 properties the down payment required goes to 25%. The adjustment for the property being investment is 2.5 points vs. normal 3 points but with less than 20% down the buyer would also have to pay for the no PMI option and that is an additional 1.75 points for a total of 4.25 points. No special treatment for seller credits on investments, standard rules apply."