Seller Pays 3.5% Closing Costs

Fannie Mae to offer 3.5 percent buyer assistance
Fannie Mae recently announced that people purchasing a Fannie Mae-owned HomePath property will receive up to 3.5 percent in closing cost assistance. The initial offer must be submitted on or after April 11, 2011; and the sale must close on or before June 30, 2011, to be eligible for the incentive. Additionally, buyers must reside in the home as their primary residence (sales to investors are excluded).

All Fannie Mae-owned HomePath properties are listed on http://www.homepath.com most listings include detailed property descriptions, photographs, community and school information, and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers home buyers an opportunity to purchase with as little as 3 percent down. 

Take a look at this site.  If you find a place in a community you like, let me know.  I have noticed that the information on HomePath is less than accurate.  I’ll check it against the MLS and give you the scoop.  In an era where it is getting more and more difficult to find FHA approved complexes, this might be just the ticket for you!

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