Freddie mac first look initiative qualification

Freddie Mac First Look Initiative

In addition, HomeSteps homes eligible for the initiative will be clearly marked with an icon on HomeSteps. Buyers must have their agent check the MLS or contact the listing agent to determine how many days are left under the First Look.

HomeSteps : Freddie Mac Homes At 5% Down & No Mortgage Insurance

The buyer and their selling agent must sign an Agreement of Purchaser affidavit affirming that the buyer will occupy the home as their residence. Parties that fraudulently sign the affidavit may be subject to criminal or civil liability. These organizations must also provide written documentation proving their non-profit or governmental status and evidence of their neighborhood stabilization mission.

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Making an Offer Agents: Many sell during the first 15 days to owner occupants. Typically condos have the best shot at making it through First look since financing programs are difficult to find. All HomeSteps homes listed on or after September 17, , are eligible for inclusion in the program.

How can a homebuyer determine the number of days the home has left under the initiative? Buyers must have their broker check MLS or contact the listing broker to determine how many days are left.

They can also check the Homesteps website to see when First Look expires. How will the Seller know if the homebuyer is buying the home as their primary residence? The buyer and their selling agent must sign an affidavit confirming that the buyer will occupy the home as their primary residence.

If this affidavit is fraudulently signed, the homebuyer and their agent may be subject to criminal prosecution and fines. Please click here for detailed information from Freddie Mac regarding First Look. To participate in the Freddie Mac or Fannie Mae First Look Initiative as a homebuyer or to submit offers as an investor, contact me at dan danmullarkey. Login Sign in to your account.

HomeSteps Review: Freddie Mac Homes for Sale

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