First
Time Buyers in California will benefit from Fannie Mae foreclosed properties to purchase a home.
Starting tomorrow, Fannie Mae will offer an special incentive to qualified homebuyers to purchase a home through its HomePath program which the company uses to market foreclosed properties. There are several restrictions on eligibility, but those qualifying may receive up to 3.5 percent in closing cost assistance.
The property must be in HomePath's FirstLook
period - a 20 day window during which only owner occupants are eligible to
submit an offer on the property, giving them the opportunity to purchase
without competition from investors. The
offer must be an initial one and submitted between February 14 and March 31,
2014. The transaction must close before
May 31, 2014.
