Closing Cost Savings on HomePath properties
Are you a home buyer looking for an extra incentive? Well good news then because for a limited time Fannie Mae is offering a special incentive to buy one of their properties through their HomePath program.
What is the incentive?
You can get up to a 3.5% credit based on the final sale price for closing cost assistance. That can equal $$$ thousands $$$ of dollars in savings.
When is it available?
Right now!!! You must make an initial offer on one of their properties February 14th through March 31st 2014 and the transaction must close before May 31, 2014.
Where is it available?
HomePath properties are located throughout the U.S but this incentive is available only in these 27 states & territory…
Arizona, California, Florida, Iowa, Idaho, Illinois, Indiana, Kansas, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, Ohio, Oregon, Puerto Rico, Tennessee, Virginia, Washington, Wisconsin, West Virginia.
Who can buy one of these properties and how?
You…if you plan to owner occupy the property. Just get in contact with a Lender first to find out how much you qualify for upfront. Then you should contact a Real Estate agent who can put in an offer on your HomePath property. Many 203k Lenders also do HomePath financing and some do HomePath renovation financing as well so that would be a good place to start.
Remember this is for a limited time and in limited states so take advantage while you can and where available.
More on HomePath closing cost assistance go here:
More on HomePath properties and information go here: