Freddie Mac is offering a 3.5% closing cost assistance incentive to home buyers who purchase a HomeSteps home in California. Combine this with a low down payment FHA loan, or even with down payment assistance, and buying a home is possible for almost anyone! You do not have to be a first time home buyer to qualify!
A HomeSteps home is a bank owned home – owned by Freddie Mac. They are trying to sell their inventory of bank owned homes. The 3.5% closing costs credit they will give you requires you enter contract between May 16, 2011 to July 31, 2011. Escrow must close by September 30th, 2011.
Freddie Mac also offers a 15 day First Look Initiative on the homes they sell. This means for the first 15 days a home is listed for sale they can only accept offers from primary resident/occupant buyers….no offers from investors allowed.
To receive this 3.5% closing costs assistance incentive from Freddie Mac HomeSteps, make sure your agent requests this in your initial offer to purchase. To sweeten the deal even more, Freedie Mac HomeSteps will even pay for a 2 year HomeProtect Limited Home Warranty and offer a 30% discount when buying new appliances…..terms, conditions, and limitations may apply…see website for details.
So Now What?
- You want to find a seller and home that offers to pay 3.5% of your closing costs?
- Do you qualify for a home loan?
- Would you also like to consider the benefit of using a down payment assistance loan program?
- Would you like to find out how you can make a stronger offer without offering a higher purchase price?
Then call me and I’ll put you in touch with a local Real Estate agent who can help make your home buying experience more enjoyable and I’ll explain how much you qualify for and compare loan options for you.
Call (951) 215-6119 or email: brad(at)homeloanartist(dot)com
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