Thursday, April 14, 2011

Fannie Mae offers Buyers closing cost assistance until June 30th

Fannie Mae announced today that people purchasing a Fannie Mae-owned HomePath property will receive up to 3.5 percent in closing cost assistance. The initial offer must be submitted on or after April 11, 2011; and the sale must close on or before June 30, 2011 to be eligible for the incentive. Additionally, they'll pay a $1,000 bonus to buyers' agents in Washington State. One caveat, buyers must reside in the home as their primary residence (sales to investors are excluded).

"Attracting qualified buyers to the market and reducing the inventory of vacant homes remains essential to stabilizing neighborhoods and helping the market recover," said Terry Edwards, Executive Vice President of Credit Portfolio Management. "Since interest rates remain low, the incentive will go a long way toward helping even more families buy a new home so this is a great time for Fannie Mae to offer some assistance."

All Fannie Mae-owned HomePath properties are listed on and most listings include detailed property descriptions, photographs, community and school information, and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers homebuyers an opportunity to purchase with as little as 3 percent down.

1 comment:

  1. Think about questioning mortgage lenders before looking at properties. Meet with as many lending agencies as possible; this will ensure that you get the mortgage that is best for you. You should be aware of what you could afford before going to the agency for the loan. Admit your financial limits and do not exceed them; just because you meet the criteria for a sizable loan doesn’t mean you need to take it all.

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