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Tom Stevens

REOs with 3.5% down payment assistance, no PMI, no appraisal

Wednesday, April 13, 2011 - Article by: Tom Stevens - Flagstar Bank - Message

FannieMae Offers Down Payment Assistance for REOs

Are you interested in buying a home that was foreclosed by FannieMae that you plan to move into and occupy? If so, then you may want to know that if you close by June 30, 2011 FannieMae will contribute toward your closing costs!

o You'll need a FannieMae Homepath lender (Me!)

o FORGET about the appraisal - it's not required with our HomePath financing

o NO PMI with our HomePath financing

o Find a home on and locate a FannieMae owned home (REO) in your area that you may want to purchase

o Request the 3.5% down payment assistance in your initial offer to FannieMae

o Close by June 30th

Enjoy your new home!!

Thomas J. Stevens, Loan Officer
Flagstar Bank FSB - an equal housing lender - financing homes in 50 states
Telephone 781-862-0585 x 223 FAX 80-856-4816
apply on-line at

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