Freddie Mac SmartBuy, Closing Cost Assistance Program Expires This Month

Since July, Freddie Mac has been offering to pay home buyers up to 3.5 percent for closing cost assistance and a 2 year home warranty through their HomeSteps SmartBuy program. This is a huge incentive that has come in handy for those with not a lot of cash lying around and/or wanting to use the money in other ways. But the program is soon coming to an end.

Freddie Mac’s HomeSteps SmartBuy program will expire October 30, 2009. In order to qualify, home buyers must make an initial offer on a HomeSteps home by October 30, 2009 with closing completed by December 31, 2009. It applies only to houses purchased as a primary residence.

If you submit an offer on a HomeSteps home after October 30, any closing cost assistance from Freddie Mac will have to be negotiated.

If you’re interested in purchasing a Freddie Mac HomeSteps home or have any questions about the SmartBuy program, click here to contact me.

Click here to search for available Freddie Mac HomeSteps SmartBuy homes in the area.