Fannie Mae Announces New Buyer and Seller Incentives for Homepath REOs

On Thursday, the GSE announced a seller assistance incentive for properties listed on the company’s REO website, Fannie is also expanding the initiative to offer an incentive to real estate agents and brokers.

Qualified homebuyers who will be owner-occupants can receive up to 3.5 percent of the final sales price that can be used toward closing cost assistance, including a home warranty, if available. In addition, selling agents representing owner-occupants will receive a $1,500 bonus.

Eligible offers must be submitted on or after September 23, 2010, and must close by December 31, 2010. The sale must close within 60 days of the offer being accepted.

HomePath properties are owned by Fannie Mae and include a wide selection of homes, including single-family homes, condominiums, and town houses. HomePath properties may also be eligible for the special HomePath Mortgage financing. Homepath financing offers mortgages with no mortgage insurance, a low 3% down payment and no appraisal of the property.

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