Mortgage Monday: Home Path

Home Path

Home Path is the Fannie Mae program that deals with the homes that Fannie Mae has foreclosed and is owned by Fannie Mae. Fannie Mae has come up with new incentives for buyers of these homes. From June 14 through October 31, 1011 the owner-occupant buyer of these homes can receive closing costs assistance of up to 3.5% of the sale price of the home. In addition to this, the selling broker will receive a $1,200 selling bonus.

In order to be eligible, the incentives must be requested at the time the initial offer is submitted. Talk to your real estate professional about this and other incentives being offered by Fannie Mae and Freddie Mac. HUD has its own incentive programs as well. Getting assistance with closing costs for home buyers could go a long way to getting the real estate market moving again.

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