ANOTHER GIFT FROM THE FEDERAL GOVERNMENT!

Posted By Deborah Tucker @ Mar 1st 2010 3:03pm In: Real Estate Trends

BUY A HOME FOR $200,000 AND RECEIVE $25,000!

As the saying goes, "If it sounds too good to be true, it probably is".  In most instances you can live by that rule, but when you are dealing with the Federal government, you just never know.  Fannie Mae's Homepath Financing Program ("HomePath") is not only for real, but it will allow a first-time homebuyer to receive as much as $24,500 when purchasing a home for as little as $200,000.  Here is how it works:

*  Your down payment needs to be only 3.0%, rather than FHA's required 3.5% which saves you $1,000.

*  No upfront or monthly mortgage insurance is required.  That saves you $3,500 at the time of closing and $88.00 a month for the next five years, which is an additional $5,280.

*  No appraisal is required.  That will save you $400.00

*  Provided you are under contract by 04/30/2010, you are still eligible for the $8,000 tax credit.

*  They will also pay up to 3.5% for closings costs or it can be used towards brand new Whirlpool appliances, however you want to divvy it up.  That gives you another $7,000.

ADD IT ALL UP AND YOU WILL SAVE AND/OR BE REBATED A GRAND TOTAL OF $25,180!!!!!

Even non first-time homebuyers that qualify for the reduced tax credit of $6,500 can get over $23,500.

All you have to do to earn this money is purchase a Fannie Mae owned property.  For a list of those properties, call your real estate professional today.


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