Sacramento Buyers Rebate!

Fannie Mae Extends Incentives For HomePath Purchases

Use Fannie Mae HomePath Financing to Renovate a Sacramento Foreclosure

Sacramento Area Realtors that haven’t discovered Fannie Mae HomePath properties and financing are missing out on a great opportunity. Fannie Mae markets its foreclosed property under the HomePath brand and even has special HomePath Financing to help complete the sale. Fannie Mae lists Sacramento Area foreclosures with local Realtors. HomePath Financing is available through selected banks and your locally approved Sacramento mortgage broker.

Fannie Mae announced today that it is extending its HomePath buyers incentive program until June 30, 2010. Buyers that purchase a foreclosure that is a HomePath property are eligible for a rebate of 3.5% of the purchase price. This incentive can be used toward closing costs, a choice of selected Whirlpool appliances, or a combination of the two.

Sacramento has more than its share of foreclosures. A buyer looking for a Fannie Mae foreclosure with an excellent financing option would be well served to begin their search with a HomePath property and special HomePath Financing.

Sacramento Realtors can sign up with Fannie Mae HomePath to list these properties in their local market. Buyers can search for a foreclosure on-line at www.HomePath.com and find some very well priced Sacramento area homes with low down payment financing options.

Special HomePath Financing includes several benefits:

* Fixed or adjustable rate mortgage programs available.
* Available to owner occupants and investors.
* Credit scores as low as 660.
* Low down payment options down to 3% for owner occupants and 10% for investors.
* Gift funds acceptable for down payment
* No mortgage insurance required.
* No appraisal required.
* Up to 6% seller concessions allowed.

In addition to special HomePath Financing, Fannie Mae offers a HomePath Renovation Loan for some of its foreclosures. The HomePath Renovation Loan allows buyers to purchase foreclosures and incorporate some repairs or upgrades into the mortgage financing. The ability to build-in improvements into the mortgage without a large out-of-pocket expense, makes the Fannie Mae HomePath Renovation Loan an excellent choice for buyers on a budget.

HomePath Renovation Loan benefits and restrictions:

* Financing to fund both purchase and light renovation.
* Low down payment options down to 3%.
* Gift funds acceptable for down payment.
* No mortgage insurance
* Available for owner-occupied properties only
* Appraisal required to validate repairs or upgrades
* Renovations available up to the lesser of $30,000 or 20% of the completed home value.
* HomePath properties must have “Renovation Mortgage” logo on listing to qualify.

HomePath properties and financing programs offer a unique opportunity to Realtors to make more deals and sell more homes. Real Estate buyers can find an exceptional value and opportunity to purchase foreclosures with the ability to upgrade their homes on a tight budget.

Call your mortgage broker HomePath expert, and discover how a Fannie Mae HomePath property and HomePath mortgage can create more opportunities to list and sell homes in your area.

Commercial Capital Funding
6939 Sunrise Blvd.
Citrus Heights, Ca 95610
Andrew Martinez
916-726-7777
www.ccflender.com