HomePath Review

Thursday, March 27th

2025 Foreclosure Listing Service Reviews

HomePath

• Free to use
• Over 400,000 property listings
• Properties in all 50 states plus Puerto Rico and the USVI
• Options to buy directly or bid at auction
• "First Look” program gives a head start to owner-occupied buyers
• Down payment assistance may be available for owner-occupied buyers

HomePath is a foreclosure listing platform designed to help homebuyers and investors find affordable properties owned by Fannie Mae, a government-sponsored enterprise that plays a key role in the US housing market. Fannie Mae helps provide stability and liquidity by buying mortgages from lenders, which sometimes results in properties being foreclosed and listed on HomePath.

Site navigation is intuitive and smooth

You'll really appreciate how easy it is to use the HomePath website to search for the exact type of property you're considering. We recommend going right to the filters to narrow down the options, because there are typically over 400,000 listings at any given time. If you're planning on living in the home, you may want to click the box for the "First Look Program”, which gives a head start to buyers like you before investors have the chance to grab the property. You could also look at the listings for auctions, or even properties that are currently tenant-occupied if you want a turnkey investment. Beyond that, you'll find all of the traditional filters for beds/baths, price range, range of year built, square feet, and so on.

Not just foreclosures

HomePath compares favorably with many of the foreclosure listing services we evaluated when it came to our two target areas. In the greater Nashville region, we found 27 listings, and in the Phoenix metro area, HomePath gave us nearly 3,000 to consider. However, we quickly realized that many of the houses were just standard real estate listings and not any kind of foreclosure or other distressed property. You'll want to zero in on the listings specifically designated with the "HomePath” icon if you want to skip over the regular realtor-listed properties. When we did that in the Phoenix area, our options dropped to just two homes. And, when we applied that same filter sitewide, the total dropped from over 400,000 to just 1,800: still not a bad selection, but not as broad as you might be expecting initially.

Excellent resource for first-time homeowners

Where HomePath really shines is for first-time home buyers. There are tools all throughout the site to help owner-occupants qualify to purchase a house, connecting them with community programs that can offer down payment assistance and grants towards closing costs, mortgages for buying fixer-uppers (as foreclosed properties can often be), and financing options for credit-worthy, low-income borrowers. (Our research here even inspired us to point some newlyweds we know in the direction of HomePath instead of renting an apartment!)

Mostly positive reputation

Reputation-wise, Fannie Mae itself gets some mixed feedback, but it's not pervasive. Some first-time home buyers skipped over the inspection part of the process - which is a must unless you're willing to take a risk, or you're experienced with construction or home repairs - and blamed Fannie Mae for the fixes they had to make not long after closing. Others describe problems with loan servicing after being transferred to or from Fannie Mae, but the issues may not have been Fannie Mae's fault.

Best choice for owner-occupied properties

If you use it properly, HomePath can be a fantastic resource for foreclosure listings and other properties. It's especially a service we recommend for first-time home buyers, because all of the tools are right on hand to help navigate the process. Just be sure to apply all of the applicable filters and you'll be good to go. We're glad to give HomePath by Fannie Mae an excellent score.