$100 Down Payment for HUD Homes

HUD homes continue to be a bargain for owner occupants with the $100 down payment option available on all properties beginning with the extended listings on October 5 2007. Then the properties listed on the General List (Owner Occupant preference) after October 10, 2007 are also eligible. This applies to the insured properties and the uninsured IF the buyer is using the FHA 203K loan to purchase! This is a program available to Georgia residents, and they must be owner occupants. One restriction on the program is that if the homeowner bids over the appraised value, then they must bring the “overbid” amount to the closing.

If you want to see what HUD homes are on the market look at my Atlanta Foreclosure page and you will see a link to HUD homes near the bottom of the page. While HUD homes are listed by Realtors and are in the lists of foreclosures that you can search by neighborhood, the only way to get an up to the minute accurate look at what is available is to go to the HUD site. Properties will still show active on the MLS when they are actually under contract. If it is on the HUD list, they are available!

If you find a home you want to see or bid on call me. You must have a registered HUD broker to make a bid!

Comments

  1. says

    Hey Dan…I’m thinking you might add a section on your site called “renovation loan programs” so that people can check out the FHA 203K program….what do you think? best regards, Sam Thompson

  2. says

    That is a great program. HUD foreclosures is a market that I stopped working long ago as it was such a pain to work with them. Might need to look back into this market and get my new broker to register with them.

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