A study by Remodeling magazine found the average rate of return on value for an upgrade in a home declined from 87 percent in 2005 to 64 percent in 2009.  Taking that into consideration, many real estate experts recommend homeowners remodel instead of adding on to their home.  For example, having a large, formal living room and an everyday family room is less desirable than having one multi-use common space.  So, rather than adding on, most homeowners are better served reconfiguring the existing floor plan or capturing unused basement or attic space.

Here's some more info on Fannie Mae's Homepath properties...  Fannie Mae recently announced that people purchasing a Fannie Mae-owned HomePath® property will receive up to 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of appliances. The offer is available to any owner-occupant who closes on the purchase of a property listed on HomePath.com before May 1. Properties eligible for this incentive are listed on HomePath.com and most listings include detailed property descriptions; photographs; community and school information; and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers home buyers an opportunity to purchase with as little as 3 percent down. Pretty great news!

More info on Fannie Mae Homepath Properties

Have you heard about Fannie Mae's Homepath Financing program? Homes that are Fannie Mae Homepath approved offer some great advantages for buyers.  The FNMA Homepath loans offer:

3% Down Payment

90% 1-2 Unit Investment

No Appraisal

No Mortgage Insurance

For 1-4 unit properties

Loan to Value > 80% & 660 FICO score

2% sellers credit

Contact us to learn more, or search for properties here.