Oh happy day the HUD $100.00 Down Payment Incentive has arrived in South Dakota! What does this mean to you? It means that now more then ever you could get into a home for very little money down! Normal down payments run the range of 3.5% for FHA and a whopping 20% for a conventional loan so this program will help many people in their quest for home ownership! Some requirements of the program are.
1. This offer is valid only with HUD homes
2. This program is only valid with an owner occupied properties so investors need not apply!
3. Earnest money still applies for these purchases. Earnest money for HUD equals $500.00 for homes listed under $50,000 and $1,000.00 for homes listed above $50,000.
4. It is possible to ask HUD to pay closing costs up to 3% of the purchase price.
To take advantage of this program you need to get in touch with a HUD registered REALTOR.
I AM a HUD registered REALTOR.