Fannie Mae Closing Cost Assistance
New Closing Cost Assistance and Appliance Incentive
*Lenders may impose their own limitations on the use of the 3.5% incentive, so buyers should consult their lenders for guidance.
Buyers purchasing properties listed on HomePath.com that are closed within this time period may receive up to 3.5% of the final sales price for one of the following:
• [...]
Good News From Fannie Mae
Fannie Mae announced that it will cover the closing costs on purchases of its foreclosed properties. This means that buyers will receive 3.5% of the final purchase price. The money can be used towards closing costs or for new appliances.
Escrow or closing deadline is May 1, 2010.
Another incentive offered is to only require [...]
90 Day No Flipping Waived For One Year
WASHINGTON – In order to spur economic real estate activity, the 90 Day No Flipping Policy will be waived by FHA for one year effective 02/01/2010.
With certain exceptions, FHA currently prohibits insuring a mortgage on a home owned by the seller for less than 90 days. This temporary waiver will give FHA [...]
First Time Buyer Program
Did you know that your child or grandchild over the age of 18 can take advantage of the First Time Home Buyer Program? Call us to find out how it works at 661-726-0696 or email here.
Wachovia & World Savings Helping Homeowners
Yes. It’s true. Wachovia, part of Wells Fargo Bank, is helping homeowners to sell their home to pay off their Wachovia and World Savings Loans. Wachovia is taking a proactive approach because they lose less money if they work out a short sale rather than foreclose on a homeowner.
Hands down, [...]
30 Year Loan Rates Match Record Low
The Washington Post
By News Services
Saturday, November 28, 2009
Average rates for 30-year, fixed-rate mortgages fell this week, matching a record low set last spring. Rates are more than a full percentage point below what they were a year ago, Freddie Mac said Wednesday.
Rates for those 30-year mortgages averaged 4.78 percent this week, down from 4.83 percent [...]
Get Pre-Qualified
Why is it important to get pre-qualified by a lender before starting the home buying process?
It’s important to get pre-qualified by a lender so that you will know what price range you qualify for, the type of loan that fits your criteria and how much money you will need for a down payment and/or closing [...]
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