Fannie Mae (FNM/NYSE) just announced the extension of its seller assistance incentive on all Fannie Mae-owned HomePath properties. Buyers will receive 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of selected appliances. The offer is available to any owner-occupant who closes on the purchase of a property listed on www.HomePath.com by June 30, 2010.
“We are happy with the results of the program, which has helped us to sell properties quickly, thereby stabilizing neighborhoods and property values,” said Terry Edwards, Executive Vice President of Credit Portfolio Management.
Properties listed on www.HomePath.com are owned by Fannie Mae and include a wide selection of homes, including single-family homes, condominiums, and town houses. HomePath properties may also be eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers prospective buyers an opportunity to purchase properties with as little as 3 percent down.
I am buying a house from Fannie Mae through “Homepath.”
I need to get $250,000 mortgage loan from you. What should I do if I want to do online?
Respectfully
Navid Nahidi
Funny, how few comment on this when they talk about the state of the economy on TV. An out-of-work carpenter (union rate $50plus) will gladly take $20-$25 an hour (some even less). As one of my friends said – it’s not a dog-eat-dog job market anymore – it’s a rat-eat-rat.
Isn’t it amazing how Fannie Mae HomePath is basically insolvent but they are still able to pay 3.5% closing costs for buyers? In my market just north of you in Temecula-Murrieta, no incentives are needed to sell a bank owned REO home. They already receive multiple offers on each home…..crazy.