New Incentives for Buyers of Fannie Mae Foreclosures; Over 700 Homes Available in St. Louis

Dennis Norman

Fannie Mae is offering 3.5 percent in closing cost assistance and a $1,500 bonus to buyers’ real estate agent or broker for people purchasing a Fannie Mae-owned HomePath® property.

Fannie Mae is trying to entice buyers to buy one of their HomePath® homes by offering to pay up to 3.5 percent in closing cost assistance as well as a $1,500 bonus to the buyers agent for owner-occupants who close on the purchase of a property listed on before December 31, 2010. The incentive is for new purchases only, for contracts entered into after September 23, 2010 and closed within 60 days, but in no event later than December 31, 2010.

According to Fannie Mae, more than eighty-seven thousand families have purchased a HomePath property in the first of of 2010 – nearly double from the same period in 2009.

Over 700 Fannie-Mae-Owned Homes Currently Available for Sale in St. Louis

I just did a quick check and found there are plenty of Fannie-Mae owned foreclosed homes for sale in the St. Louis area:

  • St. Louis County – 367 properties
  • St. Louis City – 151 properties
  • St. Charles County – 127 properties
  • Jefferson County – 82 properties
  • Franklin County – 36 properties

Many of these homes are also part of the “first look” program for owner-occupants that I wrote about previously.  To get more information on this program or on a Fannie Mae HomeSteps home in the St. Louis area please click here.

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