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Buyer's Closing cost paid by Fannie Mae through October, 2011
 
Buyers now can purchase Fannie Mae "lender owned" HomePath homes and "expect" Fannie Mae to pay up to 3.5% toward buyer closing costs (explained further in blog below).  If your closing costs are only 3%, they won't take the extra .5% off the price you paid for the home.  But on lower priced homes you may need the entire 3.5%.  On homes around $150,000 and up you won't need more than 3% unless you can use some of this to buy down your rate (or you have a pricey lender).  This is a great help to buyers and will help boost home sales even further.  The market in the Phoenix Metro Area has definitely picked up and this will help keep it moving.  Now we need more listings as we are down to 3 months inventory due to the increased activity in homes being sold to homebuyers and investors.
 
Fannie Mae Incentives - Closing Cost Assistance
 

 
 
 
We are very excited to announce the latest Fannie Mae Incentive!  In an effort to help more buyers purchase a HomePath property, a new Fannie Mae incentive is being launched which offers closing cost assistance for buyers and ... more

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