The Las Vegas, NV Fannie Mae HomePath® Renovation Loan

A Fannie Mae-owned property designated by Fannie as qualified for the HomePath Renovation loan is eligible to receive financing that includes cash for simple to moderate repairs and improvements.

The HomePath mortgage is a single loan designed to provide the borrower with enough funds to both purchase an eligible property and perform a moderate renovation, as much as $35,000 in repairs, or up to 35% of the “as completed” value.

Borrower Benefits:

• *Low 3% down payment required
• Loan amount based on appraisal’s projected, “as completed” value
• Expanded seller contributions for closing costs allowed
• Available in either a fixed or adjustable rate loan
• No mortgage insurance is required
• Flexible mortgage terms

* Proceeds for down payment can come from the borrower’s own savings, a gift, a grant, or a loan from a nonprofit organization, a state or local government, or the borrower’s employer

Eligible Properties:

• 1-4 unit primary residences, second homes, and investment properties
• Condos are eligible, and in many cases restrictive condo project requirements are waived