What's Hot: 11th Street Bridge Park on Track for Completion in 2024 | No Smoking, Please: Virginia May Make it Easier to Ban Smoking in Condo Units
Fannie Mae Announces Program That Could Cut Your Closing Costs

Fannie Mae’s HomePath program just got another perk: for a brief period, eligible buyers can get up to 3.5 percent of the final sales price covered to help pay for closing costs.
Twenty-seven states, including Maryland and Virginia, are eligible for the closing cost coverage during the FirstLook period, according to a Thursday news release. The FirstLook period is generally the first 20 days that a property is listed on HomePath.com, Fannie Mae’s listings and financing site that aims to incentivize purchases of its foreclosed and short sale properties by owner-occupants, not investors.
The FirstLook period, recently extended from 15 to 20 days, is primarily time-driven, but also has certain buyer requirements; read more about it here.
Time is short to get the closing cost deal. Buyers have to submit an offer on a house between February 14 and March 31, and close by May 31, to get coverage. If buyers find a property that works for them in the timeframe, though, Fannie Mae points out that the benefits may be further reaching than closing costs: “In many cases, buyers could use these savings to buy down their interest rate through upfront points, resulting in additional savings over time.”
See other articles related to: homepath, fannie mae, closing costs
This article originally published at http://dc.urbanturf.com/articles/blog/fannie_mae_announces_program_that_could_cut_your_closing_costs/8127
Most Popular... This Week • Last 30 Days • Ever

UrbanTurf is re-running its primer on property taxes which outlines a few things that... read »

Today, UrbanTurf looks at where homes were selling in less than a week in January. ... read »

The 11th Street Bridge Park project is progressing through the approval process.... read »

Another 30-day public comment period is currently underway.... read »

Another Shaw church has development plans on the boards.... read »
- The 5 Things To Know About DC Property Taxes
- Six Days or Less: The DC Neighborhoods Where Homes Flew Off the Market in January
- 11th Street Bridge Park on Track for Completion in 2024
- DCRA Releases Revised Short-Term Rental Regulations For DC
- A Church-Led Residential Development on the Boards in Shaw
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro
2 Comments