Fannie Mae Announces 3.5 Percent Buyer Assistance on HomePath(R) PropertiesBy Fannie Mae, PRNE
Sunday, April 10, 2011
Incentive Part of Continuous Effort to Stabilize Neighborhoods
WASHINGTON, April 11, 2011 - Fannie Mae announced today 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).
"Attracting qualified buyers to the market and reducing the inventory of
vacant homes remains essential to stabilizing neighborhoods and helping the
market recover," said Terry Edwards, Executive Vice President of Credit
Portfolio Management. "Since interest rates remain low, the incentive will go
a long way toward helping even more families buy a new home so this is a
great time for Fannie Mae to offer some assistance."
All Fannie Mae-owned HomePath properties are listed on HomePath.com and
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 homebuyers an opportunity to purchase with
as little as 3 percent down.
Fannie Mae exists to expand affordable housing and bring global capital
to local communities in order to serve the U.S. housing market. Fannie Mae
has a federal charter and operates in America's secondary mortgage market to
enhance the liquidity of the mortgage market by providing funds to mortgage
bankers and other lenders so that they may lend to home buyers. Our job is to
help those who house America.
Follow us on Twitter: twitter.com/FannieMae
Pete Bakel of Fannie Mae, +1-202-752-2034
Tags: April 11, District of Columbia, Fannie Mae, Washington