It's not too late - - FNMA Closing Cost Assistance is Available Through the End of April 2010

Closing Cost Assistance and Appliance Incentive for Fannie Mae Homes

As if the federal tax incentives weren't enough to get reluctant buyers to "get off of the fence", REALTORS® may be interested in learning about a new initiative from Fannie Mae available until the end of April 2010.

Under the special promotion, Fannie Mae is offering a 3.5% incentive* for buyers who purchase and close on FNMA owned properties between January 28 and April 30, 2010. Buyers purchasing properties listed on the HomePath site by Fannie Mae that are closed within this period may receive up to 3.5% of the final sales price for:

• Closing costs;
• The purchase of new Whirlpool® appliances by Fannie Mae; or
• A mix of closing costs and appliances, at the buyer's discretion, up to the maximum 3.5%.

To be eligible for this incentive:

• Offers must be accepted on or after January 28, 2010
• Property sales must close before May 1, 2010 (note: the federal tax incentive is available for homes under agreement by April 30 and closed no later than June 30)
• Buyers must be owner-occupants, investors are excluded

*Lenders may impose their own limitations on the use of the 3.5% incentive, so buyers should consult their lenders for guidance.