Slashed Home Prices and Interest rates

Continue to hover over historical lows…not the only enticements currently available to buyers seeking a home purchase bargain.

Fannie May and Freddie Mac are sweetening the pot by offering special limiting time incentives on foreclosed homes called the Homepath Incentive effective 6.14.11, giving up 3.5% in closing cost assistance to buyers, who purchase a Homepath property as primary residence and close by October 31. 2011.

A $1200.00 selling agent bonus is also available to selling agents who close on an owner occupied property.

Additionaly, buyers who qualify for Homepath Financing can be eligible for reduced down payments and are not required to purchase mortgage insurance or get an appraisal on the property.

Homepath Properties are located in communities all over the county and can be outstanding opportunities, particularly for first time buyers.

Many of the properties have been repaired so that they are in great condition and move in ready on  day one. 

For more information home buyers can visit www.homepath.com.

FHA Loans can be had as soon as 3 years  following a foreclosure, while some conventional (non FHA) loans require a 5 year wait.

Paying debts entirely off, unless they are accounts in collection does not optimize credit scores; neither  does closing accounts.

The Fico Score algorithm gives maximum credit to accounts that are being utilized responsibly, balances maintained at or around 3% of the available credit, rather than just sitting at  zero balance.