Getting a HomePath mortgage just got a little sweeter, as if it wasn’t already a good enough deal. Today Fannie Mae announced that people who use the HomePath mortgage program will get up to 3.5% of the purchase price to be used for closing costs or appliances.
From FannieMae.com
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.
According to Terry Edwards, the Executive Vice President of Credit Portfolio Management at Fannie Mae:
“Attracting qualified buyers to the market and reducing the inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover. Many families are taking advantage of the federal homebuyer tax credit to buy a new home so this is a great time for Fannie Mae to offer some additional help, Homebuyers have the option to choose between financial assistance toward closing costs or new appliances for their home.”
Properties that are eligible for Fannie Mae to pay up to 3.5% of the closing costs can all be found on the HomePath official website where Fannie Mae gives detailed property information about each property including community and school information for the area as well as photographs and descriptions of the property.
