Fannie Mae brings back REO buyer incentives

By Inman News, Tuesday, April 12, 2011.

Inman News™
Fannie Mae is once again offering closing-cost assistance for buyers who close on a home in the mortgage giant’s real-estate owned (REO) inventory.  Buyers who put in initial offers on or after April 11, and close on the sale of a Fannie Mae HomePath property by June 30, will be eligible to receive up to 3.5 percent in closing-cost assistance.
The offer is only good for buyers who intend to occupy the home they are purchasing as their primary residence — second homes and investor properties are not eligible.
Offers submitted before May 15 have the best chance of qualifying, Fannie Mae said, as offers submitted after that “are particularly questionable for closing” by the June 30 deadline.

To check out Homepath homes in your area go to www.homepath.com