Homepath Homes

Frequently Asked Questions about Homepath


What is HomePath?

HomePath is the branding used for all Fannie Mae-owned properties — anytime you see something labeled "HomePath", it has to do with the sale of our Fannie Mae-owned properties. For example, HomePath.com is our website, where homebuyers and real estate professionals can get detailed information on our listings, and HomePath Mortgage offers buyer financing products these properties.

How is buying a home owned by Fannie Mae different from other home purchases?

Usually, when you buy a home, you deal with a seller who lives in the home. Fannie Mae has acquired these properties through foreclosure, deed-in-lieu of foreclosure, or forfeiture.

When buying a Fannie Mae-owned home, you should know the condition of the property, the cost of any needed repairs, and the steps in the loan qualification and closing process before you enter into a purchase and sales agreement.

Has Fannie Mae fixed everything in the house?

Fannie Mae may make some repairs to increase the home's marketability but other repairs may be needed. Fannie Mae sells each property in "as is" condition, which means that the buyer accepts the property "as is." Fannie Mae is not responsible for fixing any problems after settlement.

Keep in mind, even if the house has fresh paint, brand new carpet, new appliances, perhaps even a new roof or siding, it doesn't mean everything in the house is new, or even works. Fannie Mae does not warrant or guarantee any work that may have been done on the property, whether as part of its efforts to sell the home or pursuant to conditions in the purchase contract. Where a home warranty is available, you may wish to buy it at your own expense.

You should also consider hiring a qualified professional to inspect the property, whether it has been repaired or not. Hiring a home inspector is a recommended practice, no matter what type of home you buy.

Can I buy a house directly from Fannie Mae without going through a real estate sales professional?

No, Fannie Mae depends on the expertise of local real estate sales professionals and accepts offers only through our real estate listing agents. You may work with any real estate sales professional to submit an offer to the real estate agent who has listed the property.

Learn more about Homepath Properties check out this Homepath Guide Book
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