Homebuyers purchasing foreclosed property from the Fannie Mae HomePath.com site will be able to get up to 3.5% of the sales price which they can use as closing cost assistance or for the choice of appliances.

The offer will be available for those buyers who close their mortgage between January 28th, 2010 and May 1st, 2010. Also, the buyer must be owner-occupant in order to take advantage of this assistance.

However, it has also been noted that the mortgage lenders may impose their own limitations on the buyer for the use of the 3.5% assistance. Thus, the buyers should consult their lenders in order to know about the assistance in details.