Fannie Mae Announces 3.5% Buyer Credit

Fannie Mae owned 72,275 homes as of the end of the third quarter 2009.  It wants desperately to move those home out of inventory and into the hands of new homeowners.  Like any seller with too much inventory, Fannie Mae is offering new incentives.  Until May 1, 2010, buyer's of Fannie Mae owned properties can elect to receive either a 3.5% closing cost credit or 3.5% credit toward the purchase of appliances for the home purchased.

Ask your Rent Smart/Smart Property agent for a complete list of Fannie Mae owned homes in the Chicagoland area.