Fannie Mae Announces New Incentives For HomePath Properties

Fannie Mae has announced a seller assistance incentive on Fannie Mae-owned properties listed on the company's REO website,, and expands the initiative to offer an incentive to real estate agents and brokers.

According to Fannie Mae, qualified home buyers who will be owner-occupants can receive up to 3.5% of the final sales price that can be used toward closing-cost assistance, including a home warranty, if desired and available. In addition, selling agents representing owner-occupants will receive a $1,500 bonus.

Eligible offers must be submitted on or after Sept. 23 and must close by Dec. 31. The sale must close within 60 days of the offer's being accepted.

‘More than 87,000 families have purchased HomePath properties in the first half of 2010 – nearly double the number of Fannie Mae foreclosed properties sold in the first half of 2009,’ says Terry Edwards, executive vice president of Fannie Mae's Credit Portfolio Management. ‘We continue to look for ways to stabilize neighborhoods and offer incentives to qualified buyers who will occupy these properties over the long term and help support their communities.’

SOURCE: Fannie Mae


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