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Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through October 31, 2011.
The HomePath property buyer must meet the following qualifications to be eligible:
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| • Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer. |
| • The initial offer must be submitted on or after June 14, 2011 and close by October 31, 2011. Initial offers made prior to the effective date are not eligible for the June 14 - October 31 incentive. |
| • The sale must close on or before October 31, 2011. No exceptions will be made to this deadline. |
| • Buyers must be purchasing a HomePath property as their primary residence to receive closing cost assistance. Second homes and investment properties are excluded from the incentive. |
| • Buyer must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum. |
| • Buyers with total closing costs under 3.5% are not eligible to receive the difference as a credit. |
USDA - 100% Financing
The major benefits are
• 100% mortgage LTV based on the APPRAISED value.
• Zero down payment and there is no minimum contribution required.
• No limit on seller concessions or gift.
• No mortgage insurance required.
• No reserves required.
• 30 year fixed rate only.
• Lenders must be USDA approved.
• Low interest rates, this is not a sub-prime mortgage.
• Flexible Credit Guidelines.
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Other Links
News & Events
• Mortgage Relief for Service Members
Sat, 11 Feb 2012 19:31:41 -0800Four mortgage big lenders have agreed to try to make whole service members who lost their homes or were denied interest rate reductions in violation of a federal law. Read More
| • Google Forecloses on Mortgage Comparison
Tue, 21 Feb 2012 22:10:21 -0800Is a new version of Google’s mortgage comparison service in the works? After scaling back the service in November, mortgage comparison went offline earlier this month. Mortgage comparison search is also gone from the Google Advisor site. Read More
| • Mortgage Servicing Firm Nationstar Lowers IPO Expectations
Fri, 24 Feb 2012 12:36:56 -0800Nationstar Mortgage Holdings, a mortgage servicing company, cut the amount it hopes to raise from an initial public offering as it acquired more mortgages to service but saw low interest rates and foreclosure probes weaken the value of its servicing rights. Read More
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