Buyer's Closing cost paid by Fannie Mae through October, 2011

Reblogger Brenda, Ron, Lee Cunningham & Tara Keator
Real Estate Agent with West USA Realty

 

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.

 

Original content by Bill & Cyndi Daves GA 281904 and NC 185282

Fannie Mae Incentives - Closing Cost Assistance

 

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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 even a bonus for selling agents!

 

 

 

This Fannie Mae Incentive will run from June 14 - October 31, 2011.   In other words, all contracts written on or after June 14th which close on or before October 31st, will qualify for the Fannie Me Incentive provided the terms and conditions are followed.

 

 

 

Owner-Occupants (investor purchases do not qualify) purchasing a HomePath property canHomepath receive up to 3.5% of the final sales price to be used toward closing cost assistance.  

 

 

 

We specialize in foreclosures and this is a great incentive designed to help more people afford the joys of home ownership.  We love being able to assist a young couple get into their first home or even retirees who are finally able to escape the city and move to the mountains.  

 

 

 

If you have been thinking about relocating, this is an excellent time to do it.  We have many HomePath properties in this area that qualify for the incentive.  Interest rates are low and assistance on your closing cost means more cash in your pocket!

 

 

 

You can visit HomePath.com for complete details concerning eligibility and restrictions.  Or, simply give us a call and we will be more than happy to provide you will all the details.  

 

Announcement

 

 

By the way, Selling Agents who represent an owner occupant purchaser can receive a $1200 bonus provided they meet the eligibility requirements.   If you’re an agent make sure you let all your potential buyers know that now is the time to take another look at a HomePath property.

 

 

 

 

We look forward to hearing from you!

 

Bill and Cyndi

 

Bill and Cyndi

 

 

Bill and Cyndi Daves, Associate Brokers/AREO

Coldwell Banker High Country Realty

4290 US Highway 64 West - Murphy NC 28906

Bill (828) 361-9419  or  Cyndi (828) 361-9783

Office 828-835-8500  Fax (828) 835-9678

Email: bill@teamdaves.com -or- cyndi@teamdaves.com

 

www.TeamDaves.com

 

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Topic:
Home Buying
Location:
Arizona
Groups:
1st Time Buyers
First Time Homebuyer
Advice for Buyers
Tags:
mesa az
phoenix realtor
how to buy a home
2011
buyer closing cost
buyers closing cost paid by fannie mae through october

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Rainmaker
480,856
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Congratulations for these incentives to move inventory.

How many of these FNMA owned properties were short sales that FNMA turned down over small amounts, but now FNMA is giving away much more to move their avoidable toxic inventory?

Jun 18, 2011 08:49 AM #1
Rainmaker
67,119
Brenda, Ron, Lee Cunningham & Tara Keator
West USA Realty - Phoenix, AZ
Realtors, Homes for Sale - Phoenix Metro

Dave - Who knows?  Certainly have seen some odd rejections.

 

Jun 18, 2011 08:54 AM #2
Ambassador
432,763
Bill & Cyndi Daves
Hiawassee, Young Harris, Blairsville, Hayesville, Murphy and Beyond! - Hiawassee, GA
TeamDAVES - Your REALTORS In the GA/NC Mountains!

Brenda and Ron - Thank you for the reblog!!!   Congrats to you guys on having only 3 months of inventory.  That's awesome.  We are seeing average DOM at 200+ for most Non-REO properties.

Jun 18, 2011 09:37 AM #3
Rainmaker
67,119
Brenda, Ron, Lee Cunningham & Tara Keator
West USA Realty - Phoenix, AZ
Realtors, Homes for Sale - Phoenix Metro

Bill and Cyndi - If it is a nice home or good price they are going fast.  If there is shadow inventory I wish they would list some of them!

Jun 18, 2011 09:57 AM #4
Ambassador
432,763
Bill & Cyndi Daves
Hiawassee, Young Harris, Blairsville, Hayesville, Murphy and Beyond! - Hiawassee, GA
TeamDAVES - Your REALTORS In the GA/NC Mountains!

It's the same here.  The good ones go quickly, but we still have plenty of inventory.  Our equity sellers are finally starting to understand that if they want to sell they must compete with the foreclosure market. As they reduce their prices to be competitive those too are moving. 

We are starting to see small releases of shadow inventory.  Yeah!!!

 

Jun 18, 2011 01:23 PM #5
Rainer
114,862
Laura Higginbotham
Arizona Real Estate Options - Mesa, AZ
Broker/Real Estate Consultant, Mesa, Arizona Home

So glad this incentive was extended. My buyers were sad they missed it in June. Thanks for letting me know!

Jun 22, 2011 12:32 PM #6
Rainmaker
67,119
Brenda, Ron, Lee Cunningham & Tara Keator
West USA Realty - Phoenix, AZ
Realtors, Homes for Sale - Phoenix Metro

Laura - I know, I am too!

 

Jun 22, 2011 06:16 PM #7
Rainer
211,041
Jack O'Neal
Conway Real Estate - Gilbert, AZ

Ending soon hope that they extend the program

Oct 27, 2011 10:36 AM #8
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Rainmaker
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Brenda, Ron, Lee Cunningham & Tara Keator

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