- Low interest rates for fixed-rate, adjustable-rate, and interest only loans.
- 3% down payment, and can be borrowed money.
- No appraisal fees.
- No mortgage insurance (higher rates).
- Companion Homestyle Renovation Mortgage product for investors.
With thousands of homes already approved for this program in states like Florida and Arizona, there are also a great many in other states, as foreclosures are pretty much everywhere. Searching the Homepath site, you're going straight to the homes that can be purchased under this program, and there is a nice selection, with all of the details about each.