Fannie Mae Extends HomePath Financing for Distressed Buyers

Fannie Mae has extended their HomePath® Mortgage Financing program for distressed buyers. Originally set to end on April 30, buyers now have until June 30 to get in on the program, which is available to borrowers who purchase a Fannie Mae-owned HomePath property and intend to owner-occupy.

Single-family houses, condos and townhouses are available, taken over by Fannie Mae due to foreclosures, and HomePath buyers who close by the June 30 date will receive a rebate of 3.5 percent of the purchase price of the house. The rebate can be used toward closing costs, a choice of selected Whirlpool appliances, or a combination of the two.

The HomePath website has more than 62,000 properties listed, many of which are also eligible for HomePath mortgage financing or renovation financing.

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