Foreclosure Tips: Buying Fannie Mae

: Although properties are sold as-is, you still have the right to an inspection after an offer is accepted. Use the findings to determine if the renovation costs still make the home a good investment.

: All authentic Fannie Mae foreclosures are listed on HomePath.com. You can filter by price, location, and property type (single-family, condo, or townhome). buying fannie mae foreclosure tips

You must move in within and live there for at least one year. Debt-to-Income (DTI) Generally must be 50% or lower . : Although properties are sold as-is, you still

: You cannot submit an offer without proof of funds or a mortgage pre-approval letter. Having this ready from a lender familiar with Fannie Mae's guidelines, like AmeriSave , can significantly speed up the process. The Step-by-Step Purchase Process : Although properties are sold as-is