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Keisha, Home Buyer in United States Air Fo...

how can I find out more about the 100.00 down program for hud homes

Asked by Keisha, United States Air Force Acad, CO Mon Mar 23, 2009

how can I find out more about the 100.00 down program for hud homes

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Hi Keisha :o)

I am a Pikes Peak Region HUD expert and I teach a class for Realtors on how to sell HUD Owned Homes.

In November of 2007 The Department of Housing and Urban Development (HUD) announced tha tthey were offering special sales incentives in addition to their Good Neighbor Next Door Program.

In Colorado, for a limited and undetermined length or time, $100 down payments are available to qualified, owner-occupied home buyers when purchasing one of HUD's specifically designated homes for full price and using an FHA-insured (203, 203B or 203K) new home loan.

I can recommend a local licensed and insured Mortgage Lender who is proficient in all these types of loans...including the 203K, which she and I are two of the very few in Colorado to be familiar with.

If you would like a list of local eligible properties, please feel free to contact me. If you like you can read some testimonials from previous clients here

Best Regards
Brian L. A. Wess
Realtor®, Broker Associate
Residential & Investment Specialist
Pat Newell & Associates, Inc - Metro Brokers
Colorado Springs, CO
Direct: 719-528-6672
1 vote Thank Flag Link Mon Mar 23, 2009

I would reccomend checking out HUD's web site as well. There is a lot of good information there regarding the program. Also you will want to speak with a lender who can do the $100 program as not all Lenders know how or are willing to do the $100 program. I suggest Freedom Financial if you are looking in the springs. Im sure you here the radio adds all day long and they do know what they are doing down there. I hope this helps!

Mark Kinslow II
Coldwell Banker
1 vote Thank Flag Link Mon Mar 23, 2009
Hello Keisha,

If you're looking to buy a HUD home here in Colorado, you should look through this web site. You will find all of the information you need here. You will also be able to search for a HUD home here and even look at the inspection report on the homes. The only thing that is hard about the site is the lack of interior pictures. Once you find a home or a few homes that are in the area and price range you are looking for, you will need to go and look at them or have your Realtor take pictures of them and send them to you. With HUD homes you have to have a HUD approved Realtor submit your bid online for you. There's a lot of advantages to buying the HUD homes...the $100 down program, being able to submit the bid online and know in a very short time if you are the winning bidder and when the homes initially come out on the market, they are available to owner occupents only. That means you're not competing with investors. If the home doesn't sell during the owner occupent period it will be open to all bidders. I hope this helps you, have fun searching for your new home.

Our Team sells HUD homes
1 vote Thank Flag Link Mon Mar 23, 2009
You might want to check out HUD's website since programs may vary from state to state.

You should be able to find what you are looking for there, depending on which state you are thinking of buying in.
I can help you find a good Buyer's Agent where ever you are looking if you are interested.
Let me know how I can help,
0 votes Thank Flag Link Mon Mar 23, 2009
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