As part of their neighborhood stabilization program, Fannie Mae is offering buyers’ assistance through a couple of different programs, HomePath and First Look.
HomePath
HomePath helps buyers buy covering their closing costs, up to 3.5% of the home’s purchase price.
To qualify, buyers must be purchasing a HomePath property; this is a home that is owned by Fannie Mae, usually as the result of a foreclosure or owner forfeiture. Buyers need to make the initial offer on the home on or after June 14, 2011, and the purchase must close by October 31, 2011; initial offers made prior to June 14 are not eligible.
View full details on qualifying for this program.
Search for HomePath properties.
Read an FAQ on the HomePath program.
First Look
In addition to HomePath program, Fannie Mae also offers an edge to buyers hoping to purchase a primary residence (as opposed to investors, or buyers looking for a second home). Under the First Look program, only offers from primary-residence buyers will be considered during the first 15 days that a Fannie-owned REO property is on the market.
IET Real Estate agents are always available to help you make a purchase on a Fannie Mae-owned property.
Posted by Ben Nicolas on
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