Purchase an HUD owned property for $100.00 down payment and get up to 3% closing cost assistance (in most cases). Now, that’s a combination for a happy buyer.

Lets get some HUD foreclosures moving!! 

From now until October 2012 homebuyers need a down payment of only $100.00 to purchase a HUD owned home. This is only available for owner occupant purchases and the buyer will be required to use an FHA loan.  Normal FHA underwriting guidelines apply and the sale must be for the full amount of the current list price.  Also in most cases HUD will cover 3% of the closing costs for the buyer!!

However, Texas is back in the game, but not all areas have been approved. Please see HUD’s website for your specific area. Using this search engine you can locate homes for sale in your area that may qualify for the HUD $100.00 down program!!

Unfortunately, not all HUD homes need renovation because of being distressed.  Just yesterday I saw an offer put on a property that had been completely updated and needed no work at all not even paint.  However, the great thing about this incentive program is that it can be tied in with the 203k rehab loan that FHA offers.  The 203k loan allows a buyer to purchase a home and roll in the cost of the rehab. If the home needs just a little TLC or has not been cosmetically enhanced EVER…..this loan is a great vehicle to customize a home to your liking.

So if move-in ready perfection is not in your budget or you would like to get into a new home but keep a good amount of your cash in the bank. There may not be another great time to buy as now!!

Buy it, rehab it and call it your own!!

Call me today to discuss what a great program this is and how we can get you started on the road to homeownership.