Buy a HUD Home in Georgia for Only $100 Down
HUD is currently offering it's $100 Down Payment program on it's Georgia REO properties. Don't miss out on this GREAT opportunity to purchase a home. For a limited time, you can purchase a Georgia HUD Owned property using a FHA loan with only $100 down. The $100 down is instead of the normal 3.5% down payment requirement that is typically required for an FHA loan. This offer is valid for owner-occupants only.
HUD homes are currently available in nearly every GA county. To start searching for a HUD home in Georgia, visit the Pemco website here. 
Should the property be in need of some minor repairs, HUD will allow up to $5,000 of required repairs to be held in an escrow account. If the property is in need of repairs in excess of $5,000, 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 contract 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. Your 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 with one.
FHA loan limits do vary by county, so call (404) 591-2453 to Pre-Qualify or for more program and financing details. You may also submit your application request online at www.rodneymason.com.
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