Fannie Mae Hompath

[John Palm]

I am looking to get started with the purchase of my first investment property. I expect to start out flipping and hope to gain some rentals along the way. I keep coming across Fannie Mae Homepath properties. Can anyone tell me if this is a good why to purchases properties, especially as a beginner and how does a Hompath loan allow an investor to purchase up to 10 investment properties?

[Jean Bolger]

Well, if you're flipping you'd no doubt want to start with one at a time, so the ten mortgage limit on homepath investor mortgages wouldn't apply. The advantage to homepath is that you can get a loan on a fixer that rolls in your rehab costs (up to a certain amount). You can find more info on the homepath website and from the links there. The disadvantage is that you are choosing from a limited pool of properties.