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Homepath Mortgage - REO Contact Kim C for further assistance

Wells Fargo //Homepath Mortgage If you’re shopping for a new home, a real estate owned (REO) or foreclosed property could provide opportunities for Homeownership while helping to support communities impacted by recent foreclosures. As an approved lender for Fannie Mae’s HomePath® Mortgage, Wells Fargo has financing for REO properties available through the HomePath Mortgage program. Features No appraisal required. Up to 97% financing for eligible property types. No mortgage insurance required. Interest-only payment feature and temporary buydown may be allowed.1, 2 Allowed for primary residence, second or vacation home, or investment property. Fixed- or adjustable rate mortgages available. Benefits Down payment options as low as 3% on primary residences and as low as 10% on investment properties. Down payment can come from your own savings, or can be a gift, grant or loan from various sources such as a nonprofit organization, state or local government, or employer. No mortgage insurance needed – less costly. Considerations Only properties listed on the HomePath.com website are eligible for a HomePath Mortgage. Even though an appraisal is not needed for the mortgage, consider obtaining an appraisal as well as a home inspection for your own protection. You cannot build equity through monthly interest-only payments without making voluntary principal payments during the interest only period. 1 A temporary buydown is a reduction in the mortgage payment made by a homebuyer in the early years of the loan in exchange for an upfront cash deposit provided by the buyer, the seller, or both 2 The Interest-Only payment feature will allow you to make minimum monthly interest payments for a set period of time, then full principal-and-interest monthly payments for the rest of your loan term. At the end of the interest-only period, you will be required to pay down the outstanding principal, which will increase your monthly payment, possibly substantially, even if you have a fixed interest rate. You may want to consider making more than the minimum monthly payment during the interest-only period to begin reducing principal. Depending on the product specifics, a loan with the Interest-Only payment feature may result in higher interest rates and Annual Percentage Rates than a traditional mortgage product. Wells Fargo Home Mortgage is a division of Wells Fargo Bank, N.A. © 1999 - 2013 Wells Fargo Bank. All rights reserved. NMLSR ID 399801