Aundrea Beach-Greco Mortgage Blog

Special Fannie Mae HomePath Buyer Incentive Offer

There's great news from Fannie Mae: Buyers may be eligible to receive up to 3.5% in closing cost assistance through June 30, 2011 as part of the HomePath buyer incentive.

To be eligible for this incentive, the following qualifications must be met:

  1. Buyers and/or selling agents must request the incentive upon submission of the initial offer in order to be eligible.

  2. 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.

  3. The sale must close on or before June 30, 2011. No exceptions will be made to this deadline.

  4. 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.

  5. Buyers must sign an Owner Occupant Certification Rider to the real estate purchase addendum.

  6. If the buyer's total closing costs are under 3.5%, the difference will not be available as a credit to the buyer.

Keep in mind that offers submitted after May 15, 2011 may be difficult to close by the June 30, 2011 deadline. In addition, in California and Washington, there is also a $1,000 buyer's agent incentive.

Contact me for specific details on this incentive offer and for all of your Fannie Mae HomePath financing questions. I'm always happy to help you in any way I can!

Sincerely,

Aundrea Beach-Greco
The Beach-Greco Team
Mortgage Advisor, CMP, CMPS
Lic 24392 | NMLS 333729
Residential Mortgage Services
(702)326-7866
info@aundreabeach.com

Posted by Aundrea Beach-Greco on April 30th, 2011 5:18 PMPost a Comment (0)

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