Fannie Mae Adds Financial Incentives To Move REO Properties
MANHATTAN BEACH, Calif. – Kinecta FCU said it is offering financial incentives to home agents who sell a house using a HomePath mortgage, which are financing Fannie Mae-owned properties.
Fannie Mae is paying a 3.5% closing cost incentive and a $1,200 bonus to the selling agent. The incentives will be valid Oct. 31.
Kinecta is the first credit union in California and one of only a handful nationwide offering the low down payment loans to help move Fannie Mae’s REO portfolio.
“Kinecta is constantly looking for ways to offer more affordable financing options to potential homeowners,” said Brian Robinett, senior vice president and chief credit officer for the $3.5 billion credit union. “With HomePath, our business partners can offer borrowers special financing terms on single-family homes, condominiums and town houses in a variety of neighborhoods.”