Ingrid B. Quinn

NMLS ID #211652 Arizona, Loan Consultant

Fannie Mae Closing Cost Assistance

1 Comment

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FNMA has announced that homebuyers may receive up to 3.5% of the sales price in closing cost assistance on purchase offers submitted on HomePath properties between 2/14/14 and 3/31/14 when purchasing during the First Look period. During the First Look period, owner-occupied buyers are able to submit offers, giving them the opportunity to purchase homes without competition from investors. The First Look period has recently been extended from 15 days to 20 days. Purchases must close on or before 5/31/14.

The incentive will offer qualified buyers up to 3.5% of the final sales price to pay closing costs. If closing costs do not total the 3.5%, the buyer is not able to take the left over amount as a credit back. The incentive is not available on second homes or investment properties.

Prospective buyers can search for properties and easily identify how many days remain on a property’s First Look period by visiting http://www.HomePath.com. “For more information regarding this incentive, please visit the Fannie Mae website for complete details:

http://www.fanniemae.com/portal/about-us/media/corporate-news/2014/6079.htm

Consult your local Realtor for additional information on how to submit an offer to HomePath.

For questions about the Fannie Mae HomePath mortgage financing, please contact me at Ingrid.quinn@cobaltmortgage.com or visit my website at http://www.cobaltmortgage.com/ingridquinn or http://www.scottsdalemortgageexpert.com.

Author: ibquinn

I am a Senior Loan Officer at Caliber Home Loans, with over 32 years of Mortgage Banking experience. I have the expertise and knowledge to help focus in on your homeownership goals and make them into reality. My team of experienced mortgage professionals and I can assist you in all steps of the home buying process and ensure that you have a smooth and hassle-free transaction. Caliber cannot accept mortgage loan applications or inquiries for properties located in New York through this site. Ingrid Quinn NMLS #211652 BK#0923637 www.ScottdaleMortgageExpert.com

One thought on “Fannie Mae Closing Cost Assistance

  1. I do agree with all the ideas you have offered in your post.
    They are really convincing and will certainly work.
    Nonetheless, the posts are too quick for newbies. May you please prolong them a bit
    from next time? Thank you for the post.

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