Mortgage News

Closing Cost Assistance for First-Time Homebuyers

April 24th, 2015

If first-time buyers in Virginia Beach, Norfolk, and Chesapeake, take an online course about home ownership and become certified, they could save a lot on the purchase of their home.

From the article on realtor.com:

“For instance, on a $150,000 home, Fannie Mae could contribute up to $4,500 toward your closing costs—which typically range from 2.5% to 3% of a home’s price—and even reimburse you for the $75 online course.”

Here are the details of the certification course.

The Homepath Ready Buyer program applies only to Fannie Mae owned short-sale and foreclosed properties. To search for eligible properties, click here.

Bonus feature
Some of the Fannie Mae short-sale and foreclosed properties have a “First Look” symbol. That means homebuyers who plan to purchase the property as their primary residence can make a bid up to 20 days before investors.

Fannie Mae continues to create favorable opportunities for first-time homebuyers. Make sure you take advantage!