Profile picture for seriosphillipe

HUD vs Fannie Mae HOMEPATH

I am on a fixed income. I am on permanent disability. Additionally I am a potential first time homebuyer. I heard HUD has grants and Fannie Mae has HOMEPATH.
I have read about NSP target areas.
I want to know knowing my situation more importantly my financial situation what option is best for me HUD thru grant or HOMEPATH 
p.s. my important factors are finances and taxes not so much location etc...
  • February 10 2011 - Holly Hill
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Answers (2)

Profile picture for Jeff34951
I deal with a number of Fannie Mae and HUD properties in the local market, my advice would be to find both an Agent and Lender who are well versed in theses 2 entities. Both have there positive and negative aspects. The agent will help you understand your rights or lack of when buying properties owned by Fannie & HUD and the lender can guide you through the programs avaialble at that particular time. Typically in a Fannie Mae or HUD sale your dealing with 2-3 layers of bureaucracy and can be quite frustrating on the average buyer. Good luck, I hope you get an awesome deal!
  • February 20 2011
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You need to talk to an agent in your area that is versed or certified in afforadble housing options in your area. Sometimes the city or county you live in may have grants or give your further advice.
  • February 10 2011
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