Fannie Mae Offers Down Payments as Low as 3% for Qualified Buyers

(Tampa, FL) – Ken Stoltenberg and Frank Bombeeck, directors, Mercury Advisors, announced today that a new financing option, Fannie Mae, is now available on the limited inventory of remaining residences at Grand Central at Kennedy. Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, affords qualified homebuyers the ability to purchase at Grand Central with a minimum 3 percent down payment.

“With Fannie Mae approval, this is the lowest financing rate we’ve ever been able to offer, and puts Grand Central at Kennedy within easier reach financially for homebuyers,” said Stoltenberg. “Demand has always been strong here, and now with a much lower down payment through Fannie Mae we expect to be sold out quickly.”

Located at 1120 and 1208 E. Kennedy Blvd. in the heart of the Channel District where demand for residences is at an all-time high, Grand Central at Kennedy is Tampa’s premier urban neighborhood just blocks from Downtown Tampa. Already, the vibrant retail neighborhood boasts a gym, restaurants, hair salon, dry cleaners, pub, and the Grand Central courtyard adjacent to a Publix Super Market breaking ground soon.

“With limited inventory and strong demand, we know Grand Central is a great opportunity to own in downtown Tampa today,” said David Moyer, Smith & Associates Real Estate.”

The Fannie Mae option allows Grand Central to sell residences at a fixed rate mortgage instead of an adjustable rate mortgage.

"Fannie Mae approval allows for as little as 5% down, or 3% down for first time homebuyers, and a 30-year fixed rate conventional loan,” said Jason Nordin, vice president/area sales manager, American Momentum Bank. “That’s great news for qualified buyers, since prior to securing the Fannie Mae approval, no bank would offer this traditional 30-year conventional rate loan.”

Grand Central at Kennedy is over 90 percent sold out with only 35 homes remaining. Homes start in the $200s with many ready for move-in this month.

For more information and further details, please call Smith & Associates Real Estate, the exclusive real estate company for Grand Central at Kennedy, at 813.226.8735 or email downtown@smithandassociates.com, or visit www.grandcentralatkennedy.com.