Wednesday, February 03, 2010

New Buyer Incentives for Fannie Mae Bank Owned Properties

FNMA released a limited time incentive on Home Path properties to encourage the purchase of REO properties. FNMA is offering this new incentive between January 28, 2010 and April 30, 2010.

During the offer and negotiation of an REO property, buyers will be offered an incentive of up to 3.5% of the final sales price to be used towards one of the following:

• Closing costs
• The purchase of new Whirlpool appliances by Fannie Mae
• A mix of closing costs and appliances, at the buyer's discretion, up to the maximum 3.5%

To be eligible for the incentive,
• offer must be accepted on or after January 28, 2010,
• property sale must fund before May 1, 2010, and
• buyer must be an owner-occupant

To speak with a Home Path Mortgage Broker Contact:  JSchiffrin@ephmc.com

If you are in the market to find Home Path eligible properties, please contact Buyers Broker of Florida.