Do you want to buy a home with just a $100 down payment? HUD allows some of the homes that they have foreclosed to be purchase with an FHA loan with only a $100 down payment. Most HUD owned homes in Oregon, Washington, Idaho and Alaska are eligible for this program. This is a great way for a first time home buyer to get into a home with very little down and take advantage of the $8,000 first time home buyer tax credit too. Here is a list of the current Deschutes County foreclosures, according to the HUD website:

To make an offer on a HUD home, you must use a Realtor® that is approved to work with HUD. If you check the list for Deschutes County, one that comes to the forefront is Thesa Chambers, S & S Pense Investments. You can reach Thesa at 541-536-0117 or through her e-mail, thesa@centraloregonbuzz.com.  These loans are for owner occupied properties only to qualify for the $100 down payment program. You also must use an FHA approved lender, like me. This program will work for manufactured homes, but there are some special considerations.

There are some good deals to be made, give me a call and let's get you qualified for the purchase. Some of the properties are in need of repair, and there are two ways to do that, one is an FHA 203b with up to $5,000 in an escrow account for repairs (there are requirements for this to work) or an FHA 203k Streamline where you can do repairs after closing up to $35,000, but the 203k does not work with $100 down. (Since several of the foreclosures are manufactured homes, please note the following: The 203k Streamline will not work with a manufactured home unless the foundation and tie downs are already installed. The 203b will work, but has some additional requirements.) HUD wants to help first time homebuyers get into their homes. They are doing their part. Let's get you started today. You can check out their page for new listings here. This is the main page so you first need to select state. Overall, I don't think we have a lot of foreclosures in Oregon, do you?