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By Phillip Baird | Agent in Austin, TX
  • You can now get a HUD home for $100 down!

    Posted Under: Home Buying in Austin, Financing in Austin, Property Q&A in Austin  |  November 10, 2011 3:06 PM  |  1,061 views  |  1 comment

    The U.S. Department of Housing and Urban Development (HUD) is now offering its foreclosed homes for a  $100 down. This special opportunity lasts until October 2012.

    There are also a few other caveats:

    Sorry investors, this deal is not for you!

    Now for sure you will have to pay closing costs, and of course you must be qualified for a mortgage and lastly the homes will be in "as-is" condition.

    However, on some homes, HUD will cover up to 3% of the closing costs. And you can even use the $100 dollar down payment program in conjunction with an FHA 203K Loan. This allows you to use a portion of the loan for repairs and/or renovations.

    This opportunity isn't for everyone. The "as-is" condition of some HUD homes can be daunting. But if you are the type that wants to get a great deal and earn sweat equity, this could be a perfect opportunity for you!

    Call or email me if you would like to talk about this or any other real estate questions or concerns.

    Happy house hunting!

    Phillip Baird




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