Fannie Mae HomePath Ready Buyer Program - California

Fannie Mae HomePath Ready Buyer Program - California is a grant for homebuyers in California. First-time homebuyers may receive up to 3% of purchase price (e.g., $9,000 on $300K home) toward closing costs when purchasing a Fannie Mae REO HomePath property in California. Must complete online homebuyer education framework. Up to 3.0% of purchase price in assistance. non-repayable grant. Funding comes from Federal/GSE.

Fannie Mae HomePath Ready Buyer Program - California provides assistance worth 3% of the purchase price, as set by the program. The program asks homebuyers to contribute 3% of purchase price (borrower minimum). The program can be combined with other assistance, subject to the rules of each. Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Fannie Mae HomePath Ready Buyer Program - California is structured as a grant, so it is not repaid. Repayment is triggered by None (closing cost credit). The assistance is recorded in N/A (grant - no lien) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Fannie Mae HomePath Ready Buyer Program - California is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. On credit, the program states: Contact lender for current credit score requirements. A homebuyer education course is required. Residency requirement: Primary residence; must purchase a HomePath (Fannie Mae REO) property. Citizenship or immigration status: U.S. citizen, permanent resident alien, or other eligible non-citizen. 3% of purchase price in closing cost assistance. Must purchase a HomePath property (Fannie Mae-owned foreclosure). Must complete HomePath Ready Buyer education course (7 modules, $75 fee, refunded at closing). No income limit.

Fannie Mae HomePath Ready Buyer Program - California sets its income limit as follows: Contact program provider for current income limits. The limit applies to total household income, not only the borrower’s. The program lists a maximum household size of 8. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Fannie Mae HomePath Ready Buyer Program - California caps the purchase price as follows: Contact program for current purchase price limits. Eligible property types include Single-family (1-2 unit), conventional condominium, townhome, PUD. New construction is eligible. Manufactured homes are not eligible.

Fannie Mae HomePath Ready Buyer Program - California serves homebuyers purchasing anywhere in California.

Applications for Fannie Mae HomePath Ready Buyer Program - California go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Contact provider directly; subject to funding availability. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.