Due to the economic and housing crisis Fannie Mae and Freddie Mac have had to unfortunately foreclose on millions of homes. The good new about this is you can capitalize on this misfortune.
Fannie Mae has devised a new program for prospective home buyers called the HomePath program.
This special program has many incentives that make it very enticing to say the least.
Closing Cost Assistance and Appliance Incentive for Fannie Mae Homes
Fannie Mae is offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purchasing properties listed on this site that are closed within this period may receive up to 3.5% of the final sales price for:
- Closing costs;
- The purchase of new Whirlpool® appliances by Fannie Mae; or
- A mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%.
To be eligible for this incentive:
- Offers must be accepted on or after January 28, 2010
- Property sales must close before May 1, 2010
HomePath® Mortgage Financing
This special financing is available on Fannie Mae homes with the following logo:
The benefits include:
- Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)
- You may qualify even if your credit is less than perfect
- Available to both owner occupiers and investors
- Down payment (at least 3 percent) can be funded by your own savings; a gift; a grant; or a loan from a nonprofit organization, state or local government, or employer
- No mortgage insurance*
- No appraisal fees
To learn more about this program feel free to contact me directly at 843.478.8061