Zillow Advice: Mortgage Types - What state of the home have you seen with Fannie Mae Homepath Renovation loans? http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ Zillow Advice | Zillow Real Estate The listing agent will know ... http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ The listing agent will know the most obvious items, but I would not rely on them to tell youwant needs or should be done to the property.&nbsp; My other advice is to make a list of what you would like to do, it will probably never be easier to include those items into your loan.&nbsp; If the repairs exceed 30K then the FHA 203K loan is as good if not a better option more often than not. Sun, 18 Jul 2010 15:30:00 GMT http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ 2010-07-18T15:30:00Z I have completed 8 transactions ... http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ I have completed 8 transactions in the past 2 years, in all different states.&nbsp; I have seen some where the client was to afraid to finsih touring the house, but that is the extreme side.&nbsp; If anything, I would say the condition of the homes is getting better, not worse.&nbsp; In most cases, new carpet, paint, some dry wall repair and mostly cleaning is what will be needed.&nbsp; <br/><br/>Best of luck, please click on my profile to see what I bring to the table.&nbsp; You have many choices when it comes to a Real Estate agent. <br/><br/>Spirit Messingham<br/>(520) 471-6900 Sun, 18 Jul 2010 15:25:00 GMT http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ 2010-07-18T15:25:00Z Thanks for the replies. Will ... http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ Thanks for the replies. Will the listing agent have a good idea of what the property needs? Sun, 18 Jul 2010 06:17:00 GMT http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ 2010-07-18T06:17:00Z Dear Basic:Usually when the ... http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ <p>Dear Basic:<br/>Usually when the home qualifies for HomePath renovation there is a repair that is needed. The good thing is that, Fannie Mae will guarantee the home and it will not require an appraisal as in a FHA loan. Also, the HomePath financing only requires 3% down. The renovation loan goes to the fix up of the items. Generallly, the home can be in good shape with a couple of minor flaws (broken window, missing toilet something like that). Other Fannie Mae homes can be in worse shape. Another good thing about Fannie Mae, they will often contribute to buyer closing costs on an offer. Also, look for Fannie Mae prices to drop monthly after the first two months the home is on the market.<br/><br/>Let me know if you have any questions.<br/><br/>Regards, Jeff<br/><br/>Jeff Masich, Realtor<br/>Arizona Homes and Land<br/>HomeSmart Scottsdale</p> Sun, 18 Jul 2010 05:41:00 GMT http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ 2010-07-18T05:41:00Z The homepath properties I ... http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ The homepath properties I have dealt with the properties that are homepath renovation only need some work and would not pass a conventional or FHA Appraisal.<br/><br/>Low down payment lower credit score FHA 203K will be the best bet...High downpayment high credit score Homepath Renovation will be better provided the cost of repairs stays below 30K. Sun, 18 Jul 2010 02:27:00 GMT http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ 2010-07-18T02:27:00Z If you are considering the ... http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ If you are considering the Homepath Renovation (as a owner occupant) you should really look into the <a rel="nofollow" href="http://www.203kloan.net/">203K</a> instead. More flexible and usually cheaper Sun, 18 Jul 2010 02:08:00 GMT http://www.zillow.com/advice-thread/What-state-of-the-home-have-you-seen-with-Fannie-Mae-Homepath-Renovation-loans/358286/ 2010-07-18T02:08:00Z