Fannie Extends 3.5% Seller Assistance On Its REOs

Posted by Orb Staff on April 28, 2010 No Comments
Categories : Mortgage Servicing

Fannie Mae has extended its seller assistance incentive on all of its real estate owned (REO) HomePath properties.

Buyers will receive 3.5% of the final sales price to be used toward closing-cost assistance or their choice of selected appliances. The offer is available to any owner-occupant who closes on the purchase of a property listed on the HomePath Web site by June 30.

‘We are happy with the results of the program, which has helped us to sell properties quickly, thereby stabilizing neighborhoods and property values,’ says Terry Edwards, Fannie's executive vice president of credit portfolio management.

HomePath properties may also be eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers prospective buyers an opportunity to purchase properties with as little as 3% down.

SOURCE: Fannie Mae

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