This program, initially scheduled to expire at the end of April to coincide with the expiration of the First Time Homebuyer Tax Credit, has been extended to June 30th. This program allows buyers of certain Fannie Mae-owned properties, to benefit from seller contributions that total 3.5% of the purchase price. This contribution can be in the form of seller-paid closing costs, new Whirlpool appliances, or a combination of the two.

The popular HomePath program allows a buyer of a Fannie Mae property to buy with as little as 3% down using conventional financing with no mortgage insurance. Flexible down payment options include gifts and employer loans. The program is open to both owner occupants as well as investors and typically requires credit scores of 660 or greaer. Interested buyers can visit the Fannie Mae HomePath web site for available properties and consult Home Loan Specialists, Inc., to apply for the HomePath financing program.