Buying a home can be a daunting process, especially for those of you who are first time buyers. New Fannie Mae online classes have been developed to help people looking to buy their first home. Fannie Mae has launched what they are calling “HomePath Ready Buyer™”. This comprehensive online home buyer education course covers both the complexities of home buying and the responsibilities of owning a home, helping first time buyers understand the process.
First time home buyers who complete the HomePath Ready Buyer course gain a thorough understanding of the home buying process and can request up to 3% closing cost assistance when buying a Fannie Mae-owned HomePath property! Restrictions apply, so read the full terms and conditions on the HomePath site.
The buyer must attach the HomePath Ready Buyer course completion certificate to the initial offer submission of a HomePath Property to be eligible for this assistance. This program only works with HomePath Properties. At the time of this writing there were only 17 HomePath Properties in the City of San Diego. So this program does have its limits.
HomePath Properties are foreclosed homes and as the real estate market has improved, the number of foreclosures has dramatically reduced. The graph below illustrates the drop in active foreclosure listings in San Diego County.
There are still a few foreclosures out there, but don’t expect much selection. Contact me if you’d need assistance finding properties in San Diego – distressed or otherwise.