HUD (U.S. Department of Housing and Urban Development) has a program where you can buy a HUD owned home for just $100 down!
Here are the requirements:
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It must be an owner occupied home. This is not a program for investors.
- The home must be purchased with FHA financing.
- This loan incentive is also available to owner occupant purchasers who obtain a FHA Home Repair loan. (203K Loan)
- Homes must be purchased through a HUD registered real estate agent. (that's me!)
- You do not need to be a first time Home Buyer.
The great thing about HUD owned homes is that they have already been inspected and the reports are viewable online before you even go to look at the home. There is also an estimate of repairs. That is not saying that you shouldn't do your own inspection, but this gives you a "heads up". Even though only $100 is required down as opposed to the traditional minimum of 3.5%, Home Buyers will still need money for inspections, closing, insurance etc. and should have money set aside for an emergency fund.
View HUD homes for sale in Georgia.
Contact Jen Bowman, Realtor & Broker Associate with Success Realty and registered HUD agent at 404-456-5024 to view and bid on homes in the metro Atlanta, GA area.
Read more of the Georgia Real Estate Voice for additional Home Buying Programs including down payment assistance.