Special Financing and Free Money?

As we are all aware the number of foreclosures in our Nation still drag down home prices. What if more people could buy these homes? What if they could get help with down payment and special financing? Would that help keep values stable? This economy has put a great deal of pressure on bank REO departments to sell homes and we can all take advantage. Fannie Mae is selling foreclosed properties with special financing under a program called Home Path. They allow up to 97% financing, no mortgage insurance and no appraisal. They will even help pay up to 6% in closing cost and the 3% down payment can be a gift. Just go to http://www.fanniemae.com/homepath/financing/index.jhtml go get more information and find out what homes qualify. My office is a Home Path approved lender so let's close some. Freddie Mac has a similar program with special financing and will also be aggressive in selling homes. Just go to http://www.freddiemac.com/homepossible/hp97.html for more information on this Freddie Mac Version. My office is also approved for Home Possible Financing opportunities. Another bit of help comes from some Federal Funds called Neighborhood Stabilization Program. This program, similar to SHIPP, allows Federal Funds for use in down payment, closing cost and in some cases even principal reduction. This program used in conjunction with Home Path, Home Possible, FHA, USDA, VA or any conventional loan gives us another boost in buying power. Learn more about this and more available funds at http://www.santarosa.fl.gov/housing/ and Yes, again, America's Mortgage Experts is approved to help with these funds as well. As you can see Fannie and Freddie along with the Federal Government is pushing to help move these properties. Learn what you can and call us for any questions or to allow us to help your customer find that perfect deal.