1,658 HomePath Homes In Phoenix And A New Buyer Incentive

HomePath is a program by Fannie Mae which has some advantages over other loans, even FHA. Recently Fannie Mae released a new incentives program for HomePath qualified properties.  Amongst others they are offering a New Buyer Incentive of up to 3.5% buyer assistance. See details below.

There are 1,658 residential properties that are HomePath qualified in Greater Phoenix. 190 are between $200,000 - $430,000 and 610 properties from $100,000 to $200,000. At last look properties range in price from under $20,000 to $430,000.

On a $200,000 the incentive is worth up to $7,000 - that's a good bit of change and will lower your buying cost. Check out the easy but extensive and informative mortgage calculator to get an idea what your payment may be.

From Fannie Mae.

"Fannie Mae wants to help more buyers afford to purchase their new home. That's why we are offering up to 3.5% in closing cost assistance for HomePath® properties beginning June 14 through October 31, 2011.

Eligibility Details

Initial offers must be submitted on/after June 14.Buyers must be owner occupants (i.e., the home will be their primary residence). Buyers are required to sign an Owner Occupant Certification Rider to the Purchase Addendum with all initial offer submissions.Sale must close on/before October 31.Other restrictions apply."

Many of the Home Path homes are also in the 'First Look' program.

First Look is a, "... marketing period [that] contributes to neighborhood stabilization by encouraging home ownership.

During this period, owner occupants who occupy the home as their primary residence, some non profits, and public entities and their partners can submit offers and purchase properties without competition from investor offers."

"The First Look period is typically the first 15 days a property is listed on HomePath.com, except Nevada where it is 30 days. Investor offers submitted after the expiration of the First Look period will be considered along with all other offers."

Who Does HomePath Financing?

Not all lenders can do HomePath loans. See our services providers for a selection of lenders to call.

Smart Financial Mortgage does HomePath loans. Contact Chris Timmick at 602.312.4312 to get qualifed for a HomePath mortgage and take advantage of these incentives.  Call us, Joanna at 480.331.8004 to find a home.