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Old 06-30-2016, 08:15 AM
 
80 posts, read 75,446 times
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This is regarding fannie mae/homepath properties.
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Old 06-30-2016, 06:17 PM
 
Location: Mostly in my head
19,867 posts, read 59,169,758 times
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Don't understand your question . What public funds?
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Old 07-01-2016, 12:32 AM
 
80 posts, read 75,446 times
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Look at this property and read what "Firstlook" is about:

https://www.homepath.com/listing/201...21222-46284347

I'm trying to figure out my self what this public fund is, where is it?
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Old 07-01-2016, 03:57 AM
 
12,018 posts, read 9,309,714 times
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Quote:
Originally Posted by bomocrabcakes View Post
Look at this property and read what "Firstlook" is about:

https://www.homepath.com/listing/201...21222-46284347

I'm trying to figure out my self what this public fund is, where is it?
where does it say public fund, all I see is public sewer
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Old 07-01-2016, 04:08 AM
 
Location: Bloomington IN
7,225 posts, read 8,860,121 times
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OP--"Firstlook" refers to a marketing period when bids are limited to a particular pool of buyers. If you want more information about "public funds" you need to click the 2 mortgage links under that: HomeReady and ReadyBuyer. Then you need to find a lender that does "HomeReady" mortgages. ReadyBuyer is a buyer education course that must be completed for down payment assistance.
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Old 07-01-2016, 04:18 AM
 
80 posts, read 75,446 times
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the limited pool of buyers would be the ones with not much right? So after that marketing period of no takers for the house, it becomes available to an unlimited pool of buyers. Until after that period can one actually pay cash for the house (assuming not going through HomeReady and ReadyBuyer)?

Quote:
Originally Posted by rrah View Post
OP--"Firstlook" refers to a marketing period when bids are limited to a particular pool of buyers. If you want more information about "public funds" you need to click the 2 mortgage links under that: HomeReady and ReadyBuyer. Then you need to find a lender that does "HomeReady" mortgages. ReadyBuyer is a buyer education course that must be completed for down payment assistance.
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Old 07-01-2016, 05:02 AM
 
Location: MID ATLANTIC
8,140 posts, read 19,997,539 times
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OP, there are some fabulous options for down payment assistance for those living in Maryland:

Down Payment Assistance and Partner Match Programs
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Old 07-01-2016, 06:21 AM
 
12,018 posts, read 9,309,714 times
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I would guess it's either a non profit like a church buying a home or I think there is a way for section 8 people to use their vouchers to buy a home or pay for the mortgage.
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Old 07-01-2016, 06:45 AM
 
Location: Virginia
6,134 posts, read 2,981,826 times
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OP, the "First Look" period (usually 20 days or so) is the time period where the property is only available for sale to owner-occupiers. This gives lower income or cash poor buyers the advantage in buying a home that would likely be snatched up by investors with ready cash in a regular buying situation. If you're interested in a FNMA property, you really need to read up on the program (there's TON of info online) and get yourself a buyers' agent familiar with FNMA processes, as well as getting preapproved with a good mortgage broker who will know all of the possible match fund programs that are available.
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Old 07-01-2016, 07:41 AM
 
7,445 posts, read 9,188,930 times
Reputation: 13430
Quote:
Originally Posted by bomocrabcakes View Post
Look at this property and read what "Firstlook" is about:

https://www.homepath.com/listing/201...21222-46284347

I'm trying to figure out my self what this public fund is, where is it?
You provided the link. You should read what you can find there. Here's one:


Quote:
Home Buyer Ready Program
Buying a home can be a daunting process, especially for First-Time Buyers. At HomePath, we support smart and sustainable homeownership as it advances Fannie Mae's mission to stabilize neighborhoods. That's why HomePath is proud to bring you this homebuyer education course. If you're a First-Time Homebuyer, we encourage you to take this education course to prepare you for the responsibilities of homeownership. After completing the course, if you attach the course completion certificate to an initial offer and successfully negotiate a purchase of a HomePath property, you can request up to 3% closing cost assistance toward your purchase.
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