Fannie Mae to help out first-time homebuyers!

More good news has surfaced for first-time homebuyers, even as interest rates begin to slowly climb. Still on the fence about buying a new home? We think this might help: Fannie Mae is now offering to pay closing costs up to 3% of a home’s value, for first-time homebuyers.

That’s right, there really isn’t a catch! All you must do, is participate in the mortgage entity’s counseling course. For first-time homebuyers and families who do not have adequate savings, but qualify for a mortgage based on credit history and ability to pay, this new option will be extremely helpful.

So let’s do the math. If the home you’re waiting to build is $150,000, and Fannie Mae will pay up to 3% of that home’s value, you will see a closing cost deduction of $4,500. Here’s a little more information regarding the first-time homebuyer program.

Spring is the perfect time to build your brand new, customized, dream home. And now, thanks to Fannie Mae, the upfront costs associated with purchasing a new home are now much, much less.

Are you ready to move into a brand new Faber Home? Visit our website today or give us a call: 585.889.4840.