Today, Fannie Mae announced they will pay a buyer’s closings costs if they buy a Home Path property. A Home Path property is Fannie Mae’s inventory of homes for sale across the nation.
Here are the details of the closing cost credit:
- 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.
Take a look at Home Path homes for sale. Take advantage of this offer while it lasts!
