April 11 to June 30th: Buyers Get 3.5% of their Costs Paid When Purchasing a Qualified Fannie Mae Owned Property

Pasadena Home, Historic Highlands Neighborhood

Fannie Mae is offering Buyers of  Fannie Mae bank-owned (REO) properties up to 3.5% in closing cost assistance beginning April 11 through June 30, 2011.

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HomePath is a special program designed to sell Fannie Mae owned homes.   Some of the incentives are:  low down payment as low as 3.5% and no mortgage insurance requirement. FICO scores as low as 660 are acceptable.   Homepath also has a program that loans up to $35,000 or 35% of purchase price to do renovations.

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Homepath gives owner-occupants preference by giving them a 15 day First-Look period that allow buyers to purchase without competition from investors.

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Some of the requirements for Buyers to Receive 3.5% Closing Costs are:

Offers must be submitted on or after April 11, 2011.
Buyers must intend to live in the home as their primary residence
Escrow must close on or before June 30, 2011.

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For more information contact Mary K. Lenahan:

Mary K. Lenahan, JD, Realtor
Beautiful-California-Homes-For-Sale.com
626) 798.9050 / Cell*Text: 626.226.6056
MKLenahan@yahoo.com
Dilbeck Real Estate Real Living
Short Sales – Probate – Buyer Transactions

DRE 01867737

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