HomePath Offers New Incentive to Durham Home Buyers
Like every other lender, Fannie Mae has its share of bank-owned property [called REO, or Real Estate Owned]. Unlike most other lenders, however, Fannie Mae is taking some aggressive steps to move that inventory. most recently, Fannie Mae has stepped up to offer a 3.5% incentive to buyers who buy one of the homes listed on their HomePath website. The 3.5% incentive can be used for the following
- Closing costs
- The purchase of new Whirlpool appliances by Fannie Mae
- Any combination of closing costs and appliances up to the 3.5% limit
Like anything, this offer has some limitations;
- Offers must be accepted on or after January 28, 2010
- Property sales must close before May 1, 2010
- Buyers must be owner-occupants, investors are excluded
This is a great incentive to get people looking at HomePath, especially since the $8,000 tax credit can’t be used towards a downpayment. The incentive gets you past the closing and into the home, while the $8,000 tax credit can take care of the first six months of payments.
If you’re interested in making an offer on a HomePath home, please send me an email. To take advantage of the $8,000 tax credit, you must have a home under contract by April 30, which is less time that most people think.
Tags: buyers, Fannie Mae, mortgage news
