Up to Three Percent Closing Cost Assistance Available Upon Completion of Online Education Course
https://www.homepath.com/ready_buyer.html?sf8603080=1
Keosha Burns
202-752-7840
WASHINGTON, DC – Today, Fannie Mae (FNMA/OTC) announced the HomePath®Ready Buyer™program, qualifying first-time homebuyers to receive up to three percent of the purchase price in closing cost assistance toward the purchase of a HomePath property, upon completion of an online homebuyer education course. On a $150,000 home, this could result in up to $4,500 in savings for the buyer. In addition, Fannie Mae will reimburse the $75 cost of the homebuyer education course at the time of closing.
To be eligible for the closing cost assistance and the reimbursement of the training cost:
- Buyers must complete the full online HomePath Ready Buyer training course onwww.homepath.com and receive the Certificate of Completion.
- The buyer must be a first-time homebuyer (did not own a property in the past three years) with plans to reside in the property as their primary residence. Auction, pool and investor sales are not eligible.
- The request for closing cost assistance must be made at the initial offer, submitted on or after April 14, 2015.
Those interested in becoming a homeowner are encouraged to take the course as soon as possible. The course must be completed before submitting an offer to qualify. For more information on the course and to sign up, visit https://www.homepath.com/ready_buyer.html.
Fannie Mae enables people to buy, refinance, or rent homes.
HomePath Ready Buyer™ Program
Advancing smart and sustainable home ownership
Buying a home can be a daunting process, especially for First Time Buyers. That's why HomePath is proud to bring you this homebuyer education course. If you're a First Time Homebuyer, we encourage you to take this education course to prepare you for the responsibilities of homeownership. After completing the course, if you attach the course completion certificate to an initial offer and successfully negotiate a purchase of a HomePath property, you can request up to 3% closing cost assistance toward your purchase. Restrictions apply. See full terms & conditions.
Tell me more about the training.
This course is intuitive, self-directed and interactive. The course is being used by other non-profits and lenders and exceeds both HUD standards and National Industry Standards for Homeownership Education and Counseling. The course has 9 modules with a quiz at the end and takes about 4 hours to complete. The course costs $75. After completing the course, download and save your Certificate of Completion. If you decide to purchase a HomePath property after course completion and you successfully close on a contract, the cost of the course ($75) will be reimbursed.
This course is intuitive, self-directed and interactive. The course is being used by other non-profits and lenders and exceeds both HUD standards and National Industry Standards for Homeownership Education and Counseling. The course has 9 modules with a quiz at the end and takes about 4 hours to complete. The course costs $75. After completing the course, download and save your Certificate of Completion. If you decide to purchase a HomePath property after course completion and you successfully close on a contract, the cost of the course ($75) will be reimbursed.
How do I ask for the 3% closing cost assistance?
After completing the course, you must attach the HomePath Ready Buyer course completion certificate to the initial offer submission on a HomePath property. Your Real Estate Agent must submit this at initial offer on the HomePath Online Offers system.
After completing the course, you must attach the HomePath Ready Buyer course completion certificate to the initial offer submission on a HomePath property. Your Real Estate Agent must submit this at initial offer on the HomePath Online Offers system.
Terms & Conditions
To be eligible for this offer:
- Buyers must complete the full online training course on Homepath.com and receive the official Certificate of Completion.
- Buyer must have completed the HomePath Ready Buyer Training online course and received a completion certificate prior to the initial offer submission to be eligible for the closing cost assistance.
- The Certificate of Completion must be attached to the initial offer documents uploaded to HomePath Online Offers.
- The request for closing cost assistance must be made at the initial offer in the HomePath Online Offers system. The training cost reimbursement may be included in the closing cost assistance.
- The Initial offer must be entered into HomePath Online Offers system on or after April 14, 2015. Properties currently in negotiation or under contract prior to April 14th are not eligible. Offers entered prior to April 14th are not eligible.
- The closing cost assistance offer may be adjusted during contract negotiations. Buyers with total closing costs under 3% will not receive the difference as a credit.
- Buyers must reside in the property as their primary residence within 60 days of closing.
- Individual buyers using public funds are eligible. Tenants residing in tenant-occupied properties are eligible.
- The property must be listed on Homepath.com and be eligible for the program.
Fannie Mae reserves the right to end the promotion at any time. Any dispute over this program shall be resolved by Fannie Mae in its sole discretion. Visit Homepath.com Offers & Incentives tab for full terms and conditions.
NOTE: HECM, auction, pool and investor sales are not eligible for this program.
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