April 12, 2011 (Jeff Alan)

Fannie Mae has announced a new buyer assistance program that provides prospective home buyers with closing cost assistance of up to 3.5 percent on any property bought through Fannie Mae’s HomePath Properties.

The offer runs from April 11, 2011 through June 30, 2011. In order to receive the incentive, the sale must close on or before the end of the program. Additionally, buyers must reside in the home as their primary residence, so investors are not allowed to participate in the program.

“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.”

You can search for properties online at HomePath.com. Other assistance may be available on Fannie Mae properties including special Homepath Mortgage and HomePath Renovation Mortgage financing, which offers buyers an opportunity to purchase a home through HomePath Properties with as little as 3 percent down.

Most listings on HomePath Properties include such comprehensive information as detailed property descriptions, photographs, community and school information and so much more!

Tags: Fannie Mae, HomePath Properties, buyer assistance program, closing cost, primary residence, qualified buyers, stabilizing neighborhoods, interest rates, mortgage

Sources:
Fannie Mae