Quantcast Foreclosures: Freddic Mac’s HomeSteps Program – Buying Foreclosed Homes @ Mortgage Rates

Foreclosures: Freddic Mac’s HomeSteps Program – Buying Foreclosed Homes

Foreclosures Freddic Mac's HomeSteps Program - Buying Foreclosed HomesFreddie Mac, the government controlled agency that buy mortgages from lenders has a home foreclosure program called HomeSteps. The HomeSteps program offers buyers of foreclosed homes up to 3.5%  of a home’s price towards closing costs. The foreclosed home must be purchased for a primary residence and must be chosen on Freddie Mac’s website HomeSteps.com

Closing costs on a mortgage can run into the thousands of dollars, so this offer can help buyers who might not be able to afford a home right now. If you want to take advantage of this offer you will have to hurry, you have to submit an offer for a home before October 31,2009 and close on the home buy December 31,2009.

Now is a good time to buy a home, mortgage interest rates are near historic lows, current mortgage interest rates are near 5.00 for conforming fixed 30 year mortgages. There is also a first time home buyer tax credit of $8,000 that is good until November 31, 2009. These incentives plus the Freddie’s incentives make buying a home very compelling right now.

The HomeSteps program also includes a two year warranty on major appliances and other warranties on the foreclosed home including the following. 

  • Air Conditioning
  • Heating System
  • Electrical System
  • Plumbing System
  • Water Heater
  • Stove
  • Microwave
  • Refrigerator
  • Dishwasher
  • Washer & Dryer
  • Garbage Disposal
  • Trash Compactor
  • Garage Door Opener
  • Ceiling Fan

For more information on the foreclosure program visit HomeSteps.com

Related Articles

Author: James Martin
October 14th, 2009
Posted in: Mortgage Rates



Your browser does not support this widget. Click here to see Mortgage Rates @ MonitorBankRates.com

Powered by Mortgage Rates @ MBR


Your browser does not support this widget. Click here to see CD Rates @ MonitorBankRates.com

Powered by CD Rates @ MBR


Archives

Bank CD Rates
CD Rates
Savings Accounts
Mortgage Rates

Financial Links

CDARS