The U.S. Department of Housing and Urban Development (HUD) is now offering its foreclosed homes for aÂ $100 down. This special opportunity lasts until October 2012.
There are also a few other caveats:
Sorry investors, this deal is not for you!
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"
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.
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!