A for sale sign in front of a home in Arlington, Virginia, on August 22, 2023. Andrew Caballero-Reynolds/AFP via Getty Images
Not all homes are available on the open market. If you’re looking for a bargain that’s a fixer-upper, you might want to work with a bank or government agency. Foreclosure homes can be a great deal.
Fannie Mae often finds itself selling homes directly to homebuyers and investors through its Fannie Mae HomePath program. But how does Fannie Mae end up with these properties, and can the program work for you?
Fannie Mae Government-Sponsored Enterprise
Sponsored by the U.S. government, Fannie Mae provides liquidity and stability to the housing market. It purchases mortgages from lenders and sells them on the open market.
