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HomePath® Buyer Incentive: June 14 – October 31

Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through October 31, 2011. A $1,200 selling agent bonus is also available to selling agents who close on an owner occupant property and meet all eligibility requirements and terms and conditions.

 

How Envoy Mortgage Can Help:

Envoy Mortgage is here to help you every step of the way.  When you get in touch with a home loan expert by calling 866-430-7767, we’ll get started right away by! 

1. Your home loan expert can get you pre-approved and let you know exactly how much home you can afford. We stand behind our pre-approvals and will screen the borrowers to ensure they are qualified. We want to make sure when you make an offer on a home the financing is secure.

2. When you’re ready to make an offer, your agent and your home loan expert will work together to get you to the closing table as soon as possible. We make every effort to have you signing your loan docs and in your home in 30 days. 

3. Work with title and escrow companies to ensure we are hitting or target close date and following up with both agents. We understand the time sensitive nature of Purchase Contracts and will work to meet all deadlines.

Understanding that purchasing a home is one of the biggest financial decisions you’ll ever make we want to make the process as smooth and easy as possible. You will find that most of the work will be handled by Envoy Mortgage and its team. We feel it’s important to ease the uncertainties of the loan process and provide answers to the unasked questions.

Make us your HomePath Mortgage choice and we guarantee a pleasant experience. 

 

 

Terms and Conditions:
  • Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer.
  • Initial offer must be submitted on or after June 14, 2011 and close by October 31, 2011. Initial offers made prior to June 14 are not eligible for the June 14 – October 31 incentive.
  • Sale must close on or before October 31, 2011. No exceptions will be made to this deadline. (Note: Initial offers submitted after September 15, 2011 may not close by the incentive deadline of October 31, 2011.)
  • Buyers must be purchasing a HomePath property to use as their primary residence to receive closing cost assistance. Second homes and investment properties are excluded from the incentive.
  • Sales closed via the retail channel are eligible, including those utilizing public funds. Pool and auction sales are ineligible.
  • Buyers must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.
  • Buyers with total closing costs under 3.5% are not eligible to receive the difference as a credit.
  • Properties where Fannie Mae acquired the property in connection with financing under a reverse mortgage are not eligible. Ask the listing agent for details.
  • Buyers should consult their lenders for guidance on financing. Lenders and mortgage products may impose their own limitations on the use of the 3.5% incentive. For example, the lender may consider the incentive a Seller Contribution and limit the amount to 3.0%. In those instances, the remaining 0.5% will no longer be available to the buyer.
  • Fannie Mae reserves the right to remove any property from promotion or end the promotion at any time. Any dispute over the payment of the incentive shall be resolved by Fannie Mae in its sole discretion.
Posted by Richard Woodward on June 14th, 2011 5:14 PMPost a Comment (0)

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