Is there anything we can do to get HomePath incentive once offer has been submitted? In order to receive the HomePath 3.5% incentive, you or your agent must request it with your initial offer.  However, if your offer has not yet been accepted and there are not multiple offers on the property, you can withdraw your offer and submit a new offer with the incentive included.   If there are multiple offers, the only way you can submit another offer, is if the deadline for the best and highest offer has not expired.  If the deadline has passed, then your last offer is the only offer that will be considered. 

To receive the current incentive, the home must be your primary residence and you must be able to close by October 31, 2011.  No exceptions will be made to the deadline.  However, if this is a regular HomePath loan (NOT a renovation loan), you may be able to close by the deadline, provided your inspections and repair issues are dealt with quickly.   HomePath properties are sold "as is."  However, if the property has been on the market for a while, there may be room to negotiate a credit for certain unforeseen repairs after the inspection.

No appraisal is required on a regular HomePath loan. Therefore, it is possible to close in 30 days.  Make sure to use a Mortgage Broker or a Banker that is experienced in HomePath and is highly motivated to get your loan closed.