Purchase Foreclosed Homes with as Little as 3% Down Payment
Did you know? According to the U.S. Census Bureau, the national homeownership rate stands at 65.6%. Millions of Americans are still searching for a way to buy their dream home. HomePath financing is the way in for you! It is a home buyer program created by Fannie Mae, a government-sponsored enterprise. It helps buyers purchase foreclosed and short-sale homes, often at a discount. Our team helps you apply for HomePath financing with confidence. We offer down payments as low as 3% to make this opportunity more accessible. First-time buyer or seasoned homeowner, we're here for you every step of the way.
Check If You Qualify
HomePath Requirements for Buyers
You don't have to be a first-time home buyer to use this program. Repeat buyers and investors are welcome too. That said, there are a few standard requirements to keep in mind.
Here's what the HomePath purchase process requires:
- No contingency on selling your current home: Your offer cannot depend on selling another property first. You also cannot delay closing while waiting for funds from another sale.
- Credit Score Check: It is best to know your score before you apply. A score of 580 or higher can qualify you for many loan options.
- Close within 60 days: You must be ready to close and move in within 60 days. The home must be your primary residence for at least one year.
- Work with a licensed real estate agent: Offers must go through a licensed agent. Our team is registered nationwide and can help connect you with the right agent.
- Use the standard sales contract: A specific sales contract format is required. This keeps the process fast, fair, and efficient for all parties.
- Get pre-approved before making an offer:Cash buyers aside, a mortgage pre-approval letter is required. Our team at Dream Home Mortgage can help you get pre-approved fast.
- Buy the home "as-is": The home is sold in its current condition. A professional home inspection is strongly recommended.
- Complete a homebuyer education course: Buyers must finish a short online course with seven modules. You'll also need to pass a simple assessment exam.
These homes may include single-family homes, condos, townhomes, and multi-unit properties. Not every home is move-in ready, as some may need repairs. Therefore, you have to plan for possible renovation costs.
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How to Buy a HomePath Property
Buying a HomePath property follows a clear path. Our team at Dream Home Mortgage is here to walk you through each stage, from your first question to closing day.
Step 1. Get Pre-Approved:
You can start here. A pre-approval shows you're financially ready to buy. It also sets your budget so you know exactly what you can afford.
Step 2. Search for a HomePath Property:
Once pre-approved, search for available homes online. You can filter by state, city, zip code, price, bedrooms, and more.
Step 3. Hire a Real Estate Agent:
You have to work with a licensed agent familiar with HomePath offers who represents your interests, not the seller.
Step 4. Complete the Homebuyer Education Course:
The online course has seven simple modules, works on any device, and only requires passing a final exam.
Step 5. Submit Your Offer:
You have to register on HomePath, submit your offer with a pre-approval letter, and make your best bid.
Not sure what you can afford? Try our mortgage calculator in Texas to estimate your monthly payments before you apply. We're a trusted home loan lender in Dallas and across Texas.
Buyers Trust Dream Home Mortgage and You Should Too
We've been helping families achieve homeownership since 1998. Our team makes sure that buying your forever home is exciting, not overwhelming. Moreover, we specialize in home loans in Dallas, TX and home financing across Texas.
Here's what you get when you work with us:
- Registered in All 50 States: We're your trusted partner for secure, approved home mortgage loans coast to coast.
- Equal Housing Lender: As a division of Brazos National Bank and FDIC-insured, we're committed to equal opportunity for every buyer.
- Fast Pre-Qualification and Free Consultations: You can book our free one-on-one consultation to start the pre-qualification process.
- Honest, Approachable Experts: Our loan specialists give you straight answers. We want you to feel confident in every decision.
- Tailored Lending Solutions: Every borrower is different. We match you with the home mortgage loan that fits your life and your goals.
- Lifetime Support: From your first home to future refinancing, our team is with you for the long haul.
- People-First Approach: You're never just a number here. We treat every client like family, with honesty and integrity at every step.
Are you ready to start home financing in Texas? Dream Home Mortgage is here and ready to help. Let's make your dream home a reality together.
What Our Clients Say
I had a great experience with Dream Home Mortgage. The team is very professional and explained me the process, answered my questions, and kept me updated throughout the loan process. I appreciated their patience and attention to detail. I would...
Huge shoutout to the team at Dream Home Mortgage. Mr Hussein and his team are an absolute pleasure to work with. He and his staff are very kind, transparent, diligent and thorough with explaining reviewing all available loan options and...
Dream Home Mortgage went above and beyond to help us build and close our new home. Their team guided us through securing the best interest rate, maintaining the proper debt-to-income ratio, and provided non-stop communication among different parties. This comprehensive...
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I had a fantastic experience with the Dream Home mortgage services provided. The process was seamless from start to finish, and everything was clearly explained at each step. The team and specifically Mr. Hussein Panjwani was always available to answer...
Highly recommend working with DHM! They were easy to work with, readily available and addressed all of our concerns. They provided a calming experience and helped us with every step. Our home buying experience was less stressful only because of...
I has a wonderful experience buying a house with Dream Home Mortgage! Being a first time home buyer, they gave me great advice & helped me step by step throughout the entire process. I highly recommend this team to anyone...
Had an amazing experience working with Hussein and his team to purchase a home! Extremely professional and super quick to respond to make sure all the documents needed are ready to go. Hussein’s knowledge and eagerness to work to make...
“Hussein Panjwani and his team was the best thing that happened to us! Being Self-employed, they gave us the best options and we owe our dream home to them! Kudos to the most trustworthy mortgage advisor!”
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FAQs
HomePath Financing helps qualified buyers purchase Fannie Mae–owned homes with lower costs. It makes buying a home easier and more affordable, especially for first-time buyers.
With HomePath Financing, you can put as little as 3% down, keeping more money for moving, repairs, or savings.
No! Qualified homes under HomePath Financing do not need appraisals. This saves time, effort, and money.
Yes! HomePath Financing helps renters become homeowners and also supports new investors who want to rent out their properties with flexible loan options.
