$1200 Selling Agent Incentive on HomePath Loans

Fannie Mae has come out with a fantastic incentive program for both buyers and realtors intended to help Fannie Mae unload their stock of foreclosures.  For all contracts written on owner occupied properties after June 14 and that close by Oct 31, Fannie will pay 3.5% of buyer’s closing costs as well as a $1200 selling bonus to the selling agent.  To obtain these incentives, however, you must request them as part of your initial offer.

 The HomePath program is a great financing alternative available for Fannie Mae foreclosures.  Although rate is higher, there is no PMI and no appraisal is required.  Only 3% down payment is required down to a 660 credit score (620 credit score allowed with 20% down).  Also worth noting, although the incentive specials above do not apply, HomePath is also available for investor purchases with as little as 10% down with 660+ credit score.  For more info, go to www.homepath.com.

July 11, 2011 by · Leave a Comment

About James

James A. Williamson is currently the Sr VP of Sales Development for Shelter Lending Services (formerly Fairfield Mortgage). James joined Shelter in 1994 and was the company's top Loan Officer in GA for 20 straight years helping over 2500 families finance their homes. James now oversees an incredible group of Loan Officers in Atlanta while further building Shelter's Atlanta business.

Leave a Comment