Fannie Mae extends 3.5% closing cost incentive

Real Estate Agent with One World Realty Inc. SL675447

 Fannie Mae announced that it’s extending the 3.5 percent closing cost assistance incentive for HomePath properties purchased during the FirstLook period in 27 eligible states, including Florida.

The FirstLook period gives owner-occupant or public entity buyers 20 days to submit an offer before real estate investors.

“We have received a strong response from the incentive since it went into effect on Feb. 14, and we are happy to extend the offer to even more homebuyers,” says Jay Ryan, vice president of REO sales. “With the unusually cold and extended winter season ending, we want to give people more opportunity to use the incentive to buy properties that they will call home.”

To be eligible, an initial offer must be submitted by April 30, 2014, and close on or before June 30, 2014. The incentive offers qualified buyers up to 3.5 percent of the final sales price to pay closing costs. Buyers may also use the savings to buy down their interest rate through upfront points, resulting in additional savings over time. They can work with the lender of their choice.

Prospective buyers can search for properties and identify how many days remain on a property’s FirstLook period by visiting The sales incentive icon identifies each qualifying property.


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David Burrows
Classic Realty - Fairfax, VA
No Pressure, Just Seriously Devoted to Real Estate

Thanks Donald for sharing this information today. 3.5% is a significant amount of money. I'm pleased Fanny Mae extended the deadline.

Mar 30, 2014 06:12 AM #1
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good deal for those looking for a home at very affordable terms.

Mar 30, 2014 08:54 PM #2
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Donald Urschalitz

P.A. Realtor ABR RSPS North Palm Beach County
Real Estate Specialist in Palm Beach County Florida
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