Home Buying in Buckeye>Question Details

Michael Vinc…, Real Estate Pro in Goodyear, AZ

Is it true that Fannie Mae has a new policy of keeping buyers earnest money if they can't qualify for their loan after being granted an extention?

Asked by Michael Vincent, Goodyear, AZ Thu Mar 6, 2014

Help the community by answering this question:


If you were buying a home directly from them the possibility does exist Michael.

If you were purchasing from a private owner or builder Fannie Mae does not impose this rule but your purchase contract might.

Hope that helps!


0 votes Thank Flag Link Fri Mar 7, 2014
Good Morning Michael,

This question needs to be answered by an FHA Lender. Please contact Kare Jones 480-339-1577 with AmeriFirst she will be able to answer your question. Please let her know I referred you.

Have a GREAT day!

Vivien L Biggs PLC
Prudential Arizona Properties
0 votes Thank Flag Link Fri Mar 7, 2014
Are you under contract currently to purchase a home? You should take a look at the contract and any addenda that you signed related to the contract.
0 votes Thank Flag Link Thu Mar 6, 2014

The only way to truly answer that question would be to review the paperwork you have signed as a part of your contract and that should be done by the agent or broker representing you.
0 votes Thank Flag Link Thu Mar 6, 2014
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