How do you make an offer on Fannie Mae property?
Making an Offer on HomePath Just find one you’re comfortable working with and point them in Fannie Mae’s direction. If you’re interested in a property, your agent will have to register as an agent on HomePath. There is a blue Make an Offer button with each listing that your agent can use to submit a purchase offer.
How do I make an offer on a HomePath property?
Make an Offer
- Locate the property you’re interested in by using the Search box located on the Home page.
- Once you’ve located the property, click on the property photo, and then click ‘View More’ to access the listing details page.
- Click the Make an Offer button on the details page to proceed with your offer.
What is a form 1003?
The 1003 loan application, or Uniform Residential Loan Application, is the standardized form used by most mortgage lenders in the U.S. It is required by the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corp. (Freddie Mac) for mortgages that they purchase from lenders.
Does Fannie Mae still offer HomePath?
As-is condition: Fannie Mae sells HomePath homes as they are, which means that you can’t request repairs or renovations when you submit your offer. You need to factor in the costs of fixing anything that’s broken or needs replacing when you make your initial offer.
Does Fannie Mae prefer cash offers?
Yes Fannie Mae will accept cash. Usually a cash buyer is an investor or purchasing their second home so the first look initiative comes into play. Fannie will only sell to owner occupants as their primary residence for the first 15 days of a listing.
How long does Fannie Mae take to respond to an offer?
within 3-5 days
Fannie Mae will review your offer and provide a response within 3-5 days of the offer’s submission. Please speak with your Listing Agent if you have specific questions about the offer. If your agent is not responding, please let us know.
How long does it take Fannie Mae to respond to an offer?
3-5 days
Fannie Mae will review your offer and provide a response within 3-5 days of the offer’s submission.
What’s a 1008 form?
The Uniform Underwriting and Transmittal Summary Form 1008 summarizes key data from the loan application package. Lenders use this information in reaching the underwriting decision. Form 1008 (or a similar document) must be retained in the mortgage file for manually underwritten mortgage loans.
Will Fannie Mae pay closing costs?
Closing cost assistance is paid by Fannie Mae, and delivered to your closing. In order to be eligible, buyers must only complete an online course on homeownership, pay a $75 fee (which is refunded in-full at closing), and print their education completion certificate for “the file”.
