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Fannie Announces Closing Cost Assistance for Homepath Loans

First-time homebuyers seeking to buy a house through Fannie
Mae’s HomePath® program can
receive a significant hand-up from a new program the company announced today.  The new BuyerReadyTM program will allow qualifying buyers to receive
closing cost assistance of up to 3 percent of the purchase price upon
completion of an online homebuyer education course.

HomePath is the program through which Fannie Mae collects,
manages, and markets its foreclosed property. 
The owned real estate (REO) is typically sold through local real estate
agents. 

The homeownership training course is conducted completely on
line
and consists of nine half-hour sessions. 
Fannie Mae has partnered with Framework, a non-profit created by the
Housing Partnership Network and the Minnesota Homeownership Center to design
and conduct the course which covers the complexities of home buying and the
responsibilities of homeownership.

…(read more)

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