Friday, April 29, 2011

Fannie Mae Homepath - Offers 3.5% Credit for Closing cost

HomePath® Buyer Incentive

Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through June 30, 2011.
The HomePath property buyer must meet the following qualifications to be eligible:
  • Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer in order to be eligible.
  • The initial offer must be submitted on or after April 11, 2011 and close by June 30, 2011. If an initial offer was made prior to the effective date, the offer is not eligible for the incentive.
  • The sale must close on or before June 30, 2011. No exceptions will be made to this deadline.
  • Only buyers purchasing a HomePath property as their primary residence may receive up to 3.5% in closing cost assistance. Second homes and investment properties are excluded from the incentive.
  • Buyer must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.
  • If a buyer's total closing costs are under 3.5%, the difference will not be available as a credit to the buyer.
For information on your Financing a HomePath loan.  Call us.  We are experts in financing Fannie Mae HomePath properties.

1 comment:

  1. Also, Homepath loans don't require an appraisal which is good for the homeowners' pocketbook and doesn't hold up closings.