Fannie Mae Offers Money For Closing Cost

Fannie Mae Offers Money For Closing Cost

Buying a home can be a daunting process, especially for First Time Buyers. That's why HomePath has developed homebuyer education course. If you're a First Time Homebuyer, they encourage you to take this education course to prepare you for the responsibilities of homeownership. After completing the course, with your Realtor ensure to 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.

Proceed to HomePath Ready Buyer Course

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.

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.

Terms & ConditionsImage title

To be eligible for this offer:

  • Buyers must complete the full online training course on 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 14thare not eligible. Offers entered prior to April 14thare 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 and be eligible for the program.

Blog submitted by: Ron Cooks of The Real Estate Market Place – Servicing the Greater Fort Hood area which includes: Killeen, Harker Heights, Temple, Belton, Copperas Cove and Nolanville. Feel free to call Ron at (254) 702-0064 if you have any questions regarding Central Texas Real Estate.

For Real Estate Listings in Central Texas visit my website at: or if you’re on the go text  'Ron' to 254-227-5799

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Phone: 254-702-0064
Dated: April 16th 2015
Views: 1,076
About Ron: I’m a retired Army Warrant Officer that served our nation for 25 years. I was born and reared in ...

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