This form is a contract for the lease of personal property. The lessor demises and leases to the lessee and the lessee takes and rents from the lessor certain personal property described in Exhibit "A".
Personal Property On Purchase Agreement Fannie Mae In Riverside
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Multi-State
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Riverside
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US-00123
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A Fannie Mae HomePath property is a house that's being sold directly by Fannie Mae to an investor or a traditional buyer. There are two situations in which Fannie Mae ends up owning a house. One is if the house has gone through foreclosure and Fannie Mae owned the mortgage on it.
Fannie Mae is a government-sponsored enterprise that buys mortgages from lenders. When a home owned by Fannie Mae is foreclosed, the agency lists and sells the property on the HomePath market. This program – which launched in 2009 – aims to support neighborhood stabilization and help families find the perfect home.
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company.
When used for the down payment or closing costs: if the value of the asset is at least 20% more than the amount of funds needed for the down payment and closing costs, no documentation of the borrower's actual receipt of funds realized from the sale or liquidation is required.
By acting as a market-maker — that is, constant buyer — they ensure liquidity in the lending world. As of 2025, Fannie Mae and Freddie Mac support around 70 percent of the mortgage market, ing to the National Association of Realtors.
If the account is held jointly, an access letter, stating the borrower has access to 100% of the account funds is required when business funds are being used for down payment and/or closing costs.
This is one of those times. Fannie Mae (more about them in a minute) has lowered their required down payment for owner-occupied, multi-family (2-4 unit) properties from 15%-25% to 5%. This means you can buy a property with 5% down, live in one unit, and rent out the other 1-3 units.
Below, we've outlined the steps to buying a FannieMae HomePath property. Find An Approved Real Estate Agent. Finding the right real estate agent can make or break the home buying process. Get Preapproved With A Lender. Look For HomePath Properties. Attend The Buyer Education Course. Submit An Offer.
Minimum Borrower Contribution Requirements A minimum borrower contribution from the borrower's own funds is not required. All funds needed to complete the transaction can come from a grant. The borrower must make a 5% minimum borrower contribution from their own funds.