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Limited Time: Fannie Mae Offers 3.5% Closing Costs

Posted on September 28, 2010 by tim in Buying, Home Buyer Programs

To encourage the purchase of REO properties, Fannie Mae will begin offering a new incentive on September 23 that will be available through December 31, 2010.

Overview of Incentive

Buyers purchasing properties listed on HomePath.com will be offered an incentive of up to 3.5% of the final sales price that can be used toward closing cost assistance, including a home warranty. Buyers must close within 60 days of the offer being accepted.

This incentive reinforces Fannie Mae’s commitment to stabilizing communities and assisting buyers.

Eligibility

  • To be eligible for the incentive:
  • Offers must be accepted on or after September 23, 2010;
  • Property sales must close before December 31, 2010;
  • Loans must close within 60 days of offer accepted; and
  • Purchases must be used by buyers as their primary residence (second homes and investment properties are excluded)

Additional Resources

For more information about this incentive, please review the following:

Press release on fanniemae.com

Frequently Asked Questions

Fact Sheet

Additional questions about the incentive program? Contact Team Annett at 527-3060 or email us at teamannett@gmail.com .


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