Fannie Mae Announces New 3.5% Buyer Incentive

February 2, 2010

Finance

Fannie Mae is offering incentives, some which allow purchase of appliances.

Fannie Mae is offering incentives, some which allow purchase of appliances.

Fannie Mae (FNM/NYSE) announced today that they are offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28th, 2010 and April 30, 2010. Buyers purchasing properties listed on their HomePath.com site, that are closed within this period may receive up to 3.5% of the final sales price for any of the following:

  • Closing costs;
  • The purchase of new Whirlpool® appliances by Fannie Mae; or
  • A mix of closing costs and appliances, at the buyer?s discretion, up to the maximum 3.5%.

To be eligible for this incentive:

  • Offers must be accepted on or after January 28, 2010
  • Property sales must close before May 1, 2010
  • Buyers must be owner-occupants, investors are excluded

*There is one small caveat to it: Lenders may impose their own limitations on the use of the 3.5% incentive, so buyers should consult their lenders for guidance.

Properties eligible for this incentive are listed on Homepath.com and most listings include detailed property descriptions, photographs, community and school information and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing which offers homebuyers an opportunity to purchase with as little as 3 percent down.

We’d like to thank Kevin Dooley for kindly sharing today’s photo via The Creative Common’s License.
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About Katie Anderson

Katie Anderson is a respected and successful broker at Sudler Sotheby's Realty as well as a certified appraiser. She specializes in representing clients who purchase and sell condominiums, town homes, single-family homes and income property in the Chicago land area. In her small amount time in the real estate game (she became an agent in 2003) she has assisted in excess of 400 deals and over $200 million in sales and continues to use her skills as a certified appraiser. Katie resides in Chicago's Bucktown neighborhood with her loving husband and 4-year-old-daughter, where she spends much of her spare time with her family and friends. You can contact her at katie@thechicago77.com or at andersonbraack.com

View all posts by Katie Anderson

3 Responses to “Fannie Mae Announces New 3.5% Buyer Incentive”

  1. kris baxter Says:

    The Fannie Mae incentive program is a nightmare. I tried to buy appliances and they did not come through with the deal. i had to close and do not have appliances. I lost out in $22165.00 in the transaction because of the appliances.

  2. belle Says:

    YES, IT IS INDEED A NIGHTMARE. I BOUGHT A FANNIE MAE HOME, NOW ONE WEEK AFTER CLOSING WE STILL DON’T HAVE THE PROMISED APPLIANCES. THEY MAY NEVER COME, WHO KNOWS… VERY FRUSTRATING. I SUGGEST BUY YOUR OWN APPLIANCES.

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