Fannie Mae First Look Initiative-Great News for Homebuyers

houseDid you know about the Fannie Mae First Look Initiative?

I didn’t until about 5 minutes ago…But now that I do, I want to share…

I just got off the phone with Fannie Mae to inquire if  there was any new Fannie Mae regulations that set preferences over Home Buyer Occupants as opposed to Investors when purchasing Fannie Mae Bank Owned properties…

And there is, and this is the deal:

First Look Initiative says that all Fannie Mae Bank Owned Properties new to the MLS (multiple listing service) can only accept Owner Occupant Offers for the first 15 days. After the property has been listed for 15 days then Fannie Mae will consider investor offers.

That’s great news for homebuyers getting a head start in the race for great properties and deals!!!

And great news for the neighborhood!

Investors will still have a chance to great deals, they will just have to exercise a little patience and give the regular peeps a chance 🙂

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