Fannie May announced on  January 28, 2010, a new incentive as part of their ongoing effort to help stabilize neighborhoods.  Specifically, the incentive allows people purchasing a Fannie Mae-owned HomePath® property to receive up to 3.5 percent of the final sales price to be used toward closing cost assistance or their choice of appliances.  The offer is available to any owner-occupant who closes before May 1, 2010, on the purchase of a property listed as eligible for HomePath® financing.

HomePath® Mortgage offers special financing on Fannie Mae properties.  Benefits of this type of financing include low down payments--sometimes as little as 3 percent, flexible mortgage terms, and often loan qualification with less than perfect credit.  HomePath® Mortgage financing is available from a variety of lenders—both local and national.  Since lenders may impose their own limitations on the use of the 3.5 percent incentive, buyers should consult their lenders for guidance.

Fannie Mae’s HomePath® database includes only properties that are owned by Fannie Mae.  There is a wide selection of homes—including single-family homes, condominiums and town houses located in a variety of neighborhoods.  The number, the types and the sales prices of the homes offered for sale by Fannie Mae may vary substantially.  Many of these homes are relatively new; however, older homes are offered in some areas.  Some homes may require repairs.

To purchase a Fannie Mae property, buyers must go through a real estate professional.  Fannie Mae depends on the expertise of local real estate sales professionals and accepts offers only through a Fannie Mae-certified real estate listing agent.  Individuals may work with any real estate sales professional to submit an offer to the real estate agent who has listed the property.

For over 18 years, The Pistol Tingen Team has served as the exclusive Fannie Mae-direct real estate agents for the Pitt County, Greenville, NC and closely surrounding areas. The Tingen Team welcomes and encourages questions regarding Fannie Mae properties, as well as privately owned properties currently on the market. Call 252.321.6161 with questions or to see available properties.