I wanted to let everyone know that Fannie Mae has extended the 3.5% in closing cost assistance until October 31, 2011 for the HomePath properties. They are also paying $1,200 to the buyer’s agent as a bonus.
Remember that any buyer purchasing a HomePath property can put as little as 3% down and there is no appraisal needed and no Monthly Mortgage Insurance which saves the borrower around $265 per month on a sales price of $300,000.
You can view the listed HomePath properties on Fannie Mae’s website at www.homepath.com
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