Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through June 30, 2011.
The HomePath property buyer must meet the following qualifications to be eligible:
Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer in order to be eligible.
The initial offer must be submitted on or after April 11, 2011 and close by June 30, 2011. If an initial offer was made prior to the effective date, the offer is not eligible for the incentive.
The sale must close on or before June … (2 comments)
seller contribution: Concession or Contribution - What's the Difference?
- 07/23/08 07:02 AM
The words "concession" and "contribution" are used synonymously by professionals in our industry, but it is important to realize that they can have two totally different meanings when it comes to a real estate transaction. Allow me to explain. Some closing costs and prepaid settlement costs generally are paid by the property purchaser, while other costs are the responsibility of the property seller. Other costs may be paid by either the property purchaser or the property seller. When any costs that are normally paid by the property purchaser are paid (indirectly or directly) by someone else, they are considered to be … (2 comments)
HomePath® Buyer Incentive
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