As the seat of Madison County, the home of Southern Illinois University at Edwardsville and the site of an acclaimed school district, Edwardsville can give the impression of being out of reach to some home buyers.
Not so! There are a number of affordable homes on the market right now in Edwardsville.
Click here to see a list of homes for sale in Edwardsville priced between $100,000 and $150,000.
Some homes in the very lowest price ranges in any community may be listed as needing some "TLC," or "tender loving care." That's generally a kindly shorthand for "fixer-upper home." Many will require mostly cosmetic changes and some need more extensive repairs. Only you can decide how much effort you are able to afford -- in both time and cash -- to put into making an ugly ducking home look like a swan.
If one of these homes touches your buying button, we also can discuss a HUD 203K loan with your good, local lender. The 203K will allow you to rehabilitate the property and roll the money you need to restore the home right in to your home loan. Hud provides this extra money -- up to a $35,000 cap -- to help with neighborhood revitalization. Or, if you go outside of Edwardsville just a bit, you may qualify for a Rual Development Loan which allows 100 percent financing.
Don't forget that right now you also have an opportunity to take advantage of the up to $8,000 tax credit for first-time homebuyers if you are in contract on your first home by April 30, 2010. And if you're an existing owner, you may be able to claim a $6,500 tax credit if you make a move. Always ask your tax advisor for information specific to your circumstances.
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