![]() ![]() ![]() ![]() To ensure that buyers who intend to occupy its homes get an opportunity to fully check them out and bid without competition from investment groups offering all-cash deals, Fannie has instituted what a “First Look” program. On a $400,000 house, the 3.5 percent closing-costs incentive would amount to $14,000. Asking prices range from $30,000 to $600,000 or more. Some states have thousands of HomePath listings online: Florida has nearly 12,000 Illinois, 4,360 Ohio, 2,800 California, more than 2,300 Washington state, nearly 1,800 and Nevada, around 1,400. They run the gamut - from a one-bedroom condo unit in San Diego to a four-bedroom, four-bath single family home in suburban Montgomery Village, Md. What sort of houses are we talking about? Visit the site and you’ll see. But you have to submit your initial offer no later than March 31 and close by May 31. To move them quickly out of inventory, Fannie temporarily is offering qualified owner-occupant purchasers - but not investors - cash incentives toward closing costs of 3.5 percent of the purchase price. Roughly 31,000 of these properties are listed on its “HomePath” ( resale marketing site. If you’re planning to shop for a home in the coming few weeks, here’s a an early-spring come-on that might save you some money if you qualify.įannie Mae, the largest mortgage investor in the country, has a bulging portfolio of houses acquired through foreclosures. ![]()
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