Nice, Fannie Mae just upped the ante in getting a mortgage. They announced a few days ago (late to the party but I’m busy) that they will include an incentive of up to 3.5% if a buyer uses the HomePath mortgage program. The monies can be used for closing costs and appliances.
If you’re unfamiliar with the HomePath mortgage program, here are the deets.
Here is the press release:
WASHINGTON, DC — Fannie Mae (FNM/NYSE) announced today that people purchasing a Fannie Mae-owned HomePath® property will receive up to 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of appliances. The offer is available to any owner-occupant who closes on the purchase of a property listed on HomePath.com before May 1, 2010.
You can search for Fannie Mae HomePath specific properties on their website.
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The 3.5% offer is for ANY Fannie Mae REO property purchased, not just if you use HomePath financing. You can use any financing (or cash) you want and still be eligible for the benefit.