Buy a HUD Home for Only $100 Down
Don't miss out on this GREAT opportunity to purchase a home. For a limited time, you can purchase a HUD Owned property using a FHA loan with only $100 down instead of the normal 3% down payment requirement. This offer is valid for owner-occupants only. HUD homes are currently available in nearly every GA county.
If the property is in need of repairs, you can still purchase it using a FHA 203K Renovation loan. The 203K loan allows the buyer to purchase a home that has required repairs above the FHA limit of $5,000. Even if there are not required repairs, the 203K loan can be used to update the property.
As an additional special incentive for owner-occupant borrowers who go under conract on a HUD home within its first 30 days on the market, HUD will give the buyer a $1,000 credit at closing.
You will need a knowledgeable and experienced HUD-Registered Real Estate Agent to represent you in the sale of a HUD REO. HUD will contribute 3% of the sales price toward the buyer's closing costs.
HUD does have a very specific Pre-Qualification requirement before an offer can be submitted. The Pre-Qualification letter MUST be from a direct lender like Prospect Mortgage. A Pre-Qualification letter from a mortgage broker will not be accepted and an offer cannot be submitted.
Loan limits vary by county, so call (404) 591-2453 to Pre-Qualify or for more program and financing details.
Comments(3)