Tuesday, August 16, 2011

MORTGAGE & FINANCE: Freddie Mac offering $1500 for condo association fees

Freddie Mac is offering eligible buyers up to $1,500 for condominium association dues.

The government-sponsored enterprise said the incentive is for condos available through its HomeSteps unit, on the market for at least 120 days and sold to owner-occupants.

Buyers can apply for Freddie's Condo Cash offer between Monday and Nov. 15, and must close before Dec. 30.

The GSE offers a two-year limited home warranty covering electrical, plumbing, air conditioning, heating and other major systems. Freddie Mac also extends discounts of up to 30% on appliances for a new buyer.

In May, Freddie began offering up to 3.5% buyer's closing cost assistance, as a way to help drive sales higher through the summer selling season.

JASON PHILYAW Housingwire.com August 15, 2011

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