As of last week, Fannie Mae has announced an enhancement to the company’s REO (bank-owned) program, HomePath.com.
Until recently, HomePath provided owner-occupant buyers a program of 3 percent down, and no mortgage insurance. The expansion now gives home buyers up to 3.5 percent of the sales price to use toward paying transaction closing costs. A home warranty will also be made available, covering appliances and other items.
This further opens the door for home buyers to purchase an exceptionally well priced home in an already aggressive Sarasota real estate market.