Financial Incentives from Fannie Mae & Freddie Mac
Posted by Brandon Anderson on Tuesday, October 13th, 2009 at 3:54pm.Fannie Mae and Freddie Mac, in an apparent effort to reduce inventory of foreclosures, are offering incentives to buyers.
Buyers have until Oct. 30 to apply for Freddie Mac’s SmartBuy program, which offers up to 3.5 percent of a home’s sale price to toward closing costs. The home must be from Freddie Mac's inventory of foreclosures, must be for use as a principal residence and must close by the end of 2009. Full details at http://www.homesteps.com/homeshoppers.htm.
Most buyers will find Fannie Mae's incentives even more appealing. Fannie Mae is offering, through participating lenders, mortgages with a down payment of 3 percent and no required private mortgage insurance (PMI).This an other Fannie Mae incentives are detailed at http://www.homepath.com.
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