Tuesday, January 25, 2011

Fannie Mae To Pay Up To 3.5% - Covering Most Of Buyer's Closing Costs On Homepath® Properties.

By Troy Corman, www.t2realestate.com

On January 28, Fannie Mae announced sweeter incentives to attract qualified buyers to their foreclosed homes. Savvy Dallas home buyers stand to benefit. Fannie Mae will pay up to 3.5% of the sales price for a home buyer's closing costs on it's Homepath homes.

To qualify for the Homepath incentives, the home buyer must live in the property as it cannot be used as a rental home. The home buyer can choose between the Homepath home closing costs assistance, or the home buyer can receive assistance for the purchase of new appliances.

Dallas home buyers who purchase Dallas Homepath homes, can also qualify for Homepath Mortgage plans and Homepath Renovation Mortgage Financing, which requires as little as 3% down for a down payment. Some Homepath mortgage plans also do not require mortgage insurance, which further reduces the monthly mortgage payment.

Dallas foreclosure Realtors report a sharp uptick in home buyer traffic (not yet reported by media outlets, since closings generally take 30-45 days from executed contract date). If the economy and home buyer confidence continues to improve, look for increased competition and more buyers fighting over Dallas Homepath homes and Dallas foreclosures in general.

To view Dallas Homepath homes for sale, visit http://www.homepath.com/

To get help from a Dallas realtor who has personally purchased six Dallas foreclosures, and knows the ins and outs, contact Troy Corman at 214.690.9682.

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