BREAKING NEWS ---  HOMEPATH BUYER INCENTIVE

A recently published report indicates that Fannie Mae owns more than 162,000 homes in their inventory, and they NEED to sell these homes FAST because they are adding to their debt obligations. Fannie Mae is in the business of making loans, not owning homes. They are trying to sell these homes as quickly as possible by providing incentives to home buyers.   What type of incentives, you ask?

Fannie Mae is giving away UP to 3.5% in Closing cost assistance through June 30, 2011!

Example of Closing Cost Credit:

$250,000 Purchase Price - This special credit can save you up to $8,750 in closing costs...that's awesome!!

If you are looking to purchase a home with an extremely LOW down payment, this loan information could be very helpful. You must live in the home for 12 months to qualify for the closing cost credit and close before June 30, 2011.  Don't procrastinate any longer...fill out your information below and a consultant from my team will call you within 24 hours. 

HomePath Requirements - Without the special incentive the Homepath program is still affordable for most. 

If you plan to live in the home, the loan program will allow up to 97% financing with one loan and NO mortgage insurance is required which means you can save an enormous amount of money over the life of the loan. If you can qualify for a community second mortgage or down payment assistance program you can finance the rest of your home purchase and put down only $500 as an Ernest Money Deposit. In addition, you may have the first opportunity to place an offer with the First Look Program (ask me about this)...

Benefits of Homepath:

• Low Down payment
• Receive funds at closing for repairs
• Receive Money for Closing costs
• No Mortgage Insurance

NO Mortgage Insurance***    

$250,000 Loan Amount = $1,439 Mortgage Payment under HomePath Program

***Not required on Fannie Mae Home Path Program***

             
Versus:

Mortgage Insurance**

$250,000 Loan Amount = $1,525 Mortgage Payment with Mortgage Insurance

**Mortgage Insurance is usually a requirement for loans that are less than 20% down**

These are just a few benefits of the Homepath program. When you are comfortable and want to get a better idea of all the benefits this program has to offer, contact my team and we will be thrilled to help you get into the best program for your needs.

During your consultation, I will be asking some thought-provoking questions to help figure out what is important to you and we’ll work together to make sure we meet those goals.

When you request help from us, you'll also get a free subscription to the Home Finder newsletter, information on homes that are currently for sale and updates of new homes as they come on the market.

The first step to buying a home is to make sure you can qualify for a loan, so take a minute and fill in your contact information below. Come and be part of our family.