Fannie Mae Offers Buyer Assistance on HomePath Properties
As part of an ongoing effort to increase neighborhood stabilization, Fannie Mae is offering financial incentives! Buyers can qualify for up to 3.5% in closing cost assistance on the purchase of any HomePath properties through October 31, 2011.
“Attracting qualified buyers to the market and reducing the inventory of vacant homes remains essential to stabilizing neighborhoods and helping the market recover,” says Terry Edwards, Fannie Mae 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.”
What are HomePath properties?
HomePath homes are properties that were unable to avoid foreclosure, and Fannie Mae now owns, as it was the investor in the mortgage. Fannie Mae’s goal is to sell these homes in a timely manner to help boost local housing markets and minimize the effect of foreclosed properties on communities.
HomePath properties vary in size, location and price, and include detached homes (also known as single family houses), condominiums, and town houses located in neighborhoods across the country.
Search all available HomePath properties online at www.homepath.com.
Am I eligible for financial assistance?
Buyers must meet certain qualifications to be eligible for the incentive, including:
- The incentive must be requested at the initial offer submission.
- The initial offer must be submitted on or after June 14, 2011 and the sale must close on or before October 31, 2011.
View all eligibility requirements, terms and conditions online at www.homepath.com/incentive/index.html.
Have questions? Interested in seeing a property? Contact me!
Category : Blog