On 4/15/15, Fannie Mae announced that it is launching a HomePath Ready Buyer program, which is a comprehensive online homebuyer education course for first time home buyers. 1st time homebuyers who complete this education course by their initial offer can request up to 3% closing costs assistance towards the purchase of a HomePath (foreclosed) property. Home buyers are also reimbursed for the cost of the HomePath Ready Buyer training, which is $75 at the time of this release.
To be eligible, buyers must:
1. Complete the HomePath Ready Buyer training course and receive a certificate of completion.
2. Must be 1st time homebuyer (did not own a property in the past 3 years) and plans to reside in the property as their primary residence.
3. Auction, pool and investor sales are not eligible.