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HUD has announced a program to sell their inventory in several states. Now you get to benefit!
CLICK BUTTON TO SEARCH HUD HOMES NOW!
1. Time to Buy!
2. Great News!
3. How the Program Works!
4. Qualifications
5. What is a HUD Home?
6. How Do I Start?
For anyone who has wanted to buy a house but did not have the 3.5% down payment required for FHA (or who would rather use it for new furnishings or landscaping), this is a huge bonus. With interest rates and prices the lowest they've been in decades, there has never been a better time to buy!
It's easy to qualify, and there are dozens of properties available, with more coming out every week. To get a FREE list of HUD homes sent to you weekly, just send us your name and email on the left.
HUD (the US Department of Housing and Urban Development) has announced a limited-time sales incentive program which allows qualified buyers to buy HUD homes with a down payment of only $100!
Normally, an FHA loan will require 3.5% as a down payment. With this program, all you need for your down payment is $100! In addition, you may ask HUD to pay up to 3% of your closing costs. That means that you can get into a home for almost nothing out of pocket!
HUD lists new properties every Friday. As soon as the properties go on the market, bids are limited to owner-occupants only (those who will buy the house to live in) or non-profit agencies. After ten days, if no bids are accepted, the bidding is opened to everyone, including investors. The properties may also be pulled and re-packaged or re-priced, and put back out for another 10-day owner-occupant-only bidding period. This process may happen a few times, depending on the property. The homes remain on the market until they are sold.
Qualifying is easy! To buy your home with $100 Down payment, you must:
- obtain an FHA loan for the purchase (most loans nowadays are FHA, and they are the most lenient),
- stay in the property for at least one year (investors do not qualify for this incentive)
That's it! A very simple list, for a very exciting program!
NOTE: If you offer more than the HUD list price for the home, you can apply the down payment to the list price only - but you will have to pay for the difference between what you offered and the list price.
HUD homes are homes that had FHA loans at one point, but were foreclosed. Once the homes are foreclosed, they go back to HUD for resale. Not all foreclosure properties are owned by HUD. If the loan was not an FHA loan, the bank which owned the foreclosed mortgage is the one who takes it to the foreclosure sale, and uses their own methods to resell it. Any homes that were not returned to HUD do not qualify for this program.
But there are dozens of homes each week that do! Take a trip through our virtual tours to the right, and check out the inventory! From homes to condos, townhomes to mansions, and even mobile homes, HUD homes run the gamut and we're sure you'll find what you need!
Step 1 -- Get pre-qualified for the $100 downpayment HUD Homes Program (click on the link)
Step 2 -- Get on our list of weekly HUD homes and have them emailed to you automatically or check back to see our virtual tours weekly! Just provide us your name and email on the form on the left and start getting them today!
Step 3 -- Tour homes in your area. Call us to schedule a showing, and we'll let you right in!
Step 4 -- Submit an offer through one of our HUD Certified Agents to buy the home you've chosen
Step 5 -- Once HUD accepts your offer, close on your home
Step 6 -- Move in and enjoy your new home!
It's that simple -- but the first step is to get pre-qualified.
Apply Online now!
(Remeber to pick Jack Gritter as your loan officer on the form)