When you are saving to buy a home, every cent helps. It's no secret that right now is a great time to purchase a home in Sacramento.
Did you know that Fannie Mae has a special program to help?
Fannie Mae Announces New Incentives for HomePath® Properties
REO or Real Estate Owned properties that are owned by Fannie Mae are being sold with special financing incentives.
Under the new incentive program, owner-occupants and public entities that buy a HomePath Property between now and the end of the year can receive up to 3.5 percent of the purchase price in closing cost assistance.
- Low down payment and flexible mortgage terms (fixed-rate, adjustable-rate, or interest-only)
- You may qualify even if your credit is less than perfect
- Available to both owner occupiers and investors - although owner occupants are given priority for the first 15 days that the home is on the market. After the home has been on the market for more than 15 days, Fannie Mae will consider offers from investors or those wishing to purchase as a second home.
- Down payment can be from your own savings or a gift which includes a grant; a loan from a nonprofit organization, state or local government or employer.
- No mortgage insurance*
- No appraisal fees
The sale must close within 60 days of acceptance of the offer and no later than December 31, 2010. The incentive must be requested in the initial offer.
You can find out more information and also search for qualifying properties by visiting the HomePath.com web site.
Not only can you purchase a home using the HomePath® loan program but you can also get a home loan to refurbish the home.
Ask me how I can help you get started.
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