To move its foreclosed properties, Fannie Mae is offering up to 3.5% in closing cost assistance for HomePath Properties that can close by June 30^th.

"Through its HomePath program, Fannie provides low-down payment financing on sales of REO properties with no requirements for mortgage insurance or appraisals." writes Brian Collins of National Mortgage News.

HomePath loans usually require approximately 3% down, so with Fannie Mae offering 3.5% assistance in closing costs, it's almost like not having any down payment! But buyers must certify at closing that they will be owner occupants in order to qualify.

You can find featured homes in foreclosure listed on the Fannie Mae HomePath website.

Look for a Metro Brokers agent who specializes in foreclosed homes to help you search all the available listings.

photo credit: Springs Summit Group

Posted in Buyer Resources, Real Estate Market Conditions, Headlines

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