Attention: Selling Agents
Freddie Mac First Look Initiative Extended to Second Home Purchasers
Effective August 1, 2011, Freddie Mac will offer second home purchasers the opportunity to purchase HomeSteps homes through the Freddie Mac First Look Initiative. The First Look Initiative supports Freddie Mac's mission to stabilize communities and support housing recovery through the creation of affordable home ownership opportunities.
This on-going initiative offers owner occupant homebuyers, second home purchasers, Neighborhood Stabilization Program (NSP) grantees and non-profits engaged in community stabilization efforts the ability to purchase HomeSteps homes during their initial 15 days of listing without competition from investors.
- The purchaser does not need to be a first time homebuyer to be eligible; however, they must be buying the home as their residence.
- The Affidavit of Owner Occupancy has been updated and should be used on all new sales.
- The 15 day Initiative time period is based on MLS days, not the date of the listing broker listing.
- In Nevada, Freddie Mac's First Look Initiative window is 30 days.
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