How many HomePath Investment properties can I finance? HomePath is a loan product designed to market & sell Fannie-Mae REO properties.    Unlimited number of properties may be owned, but only 10 (including your Primary Residence) may be financed.  The program offers low down payment options, no mortgage insurance and no appraisal fees.

1 unit investment properties may be financed with as high as 90% LTV.  Although most HomePath lenders  will require a minimum credit score of 700.   Also, expect for some Homepath lenders to offer only 85% LTV on investment properties.   However, borrowers with 5 - 10 financed properties will be limited to 75% LTV and higher credit score requirement. 

1.     History of bankruptcy or foreclosure within the past seven years.

2.     Any delinquencies (30-day or greater) within the past 12 months on any mortgage loans.

Rental income on the subject property must be fully documented in accordance with Conforming Guidelines.  Rental income from other properties owned by the investor  must be supported by two years' federal income tax returns.  Additionally, the borrower must have reserves for the subject property and typically lenders require 6 months reserves on each additional investment property.  Finally, keep in mind that gifts for down payments or reserves are not allowed and interested party contribution is limited to 2% on investment properties.