Large down payment requirements have made homeownership a challenge for many otherwise qualified home buyers. HUD’s latest announcement includes a $100 down payment on HUD homes with FHA financing. Note that any offers exceeding appraised value require the buyer to provide the additional funds at closing.
The buyer must be an owner-occupant, utilizing financing insured by the Federal Housing Administration (FHA). Standard FHA underwriting guidelines apply, and the sale must be for the full amount of the current list price.
There is also, “The Good Neighbor Next Door Program”
Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians can contribute to community revitalization while becoming homeowners through HUD’s Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence.
What is different about buying a HUD Home? Taylor Realty Group is a registered HUD Broker, which means we can show HUD Homes and submit buyer offers to HUD. If you would like more information, and/or have specific questions/concerns about purchasing a HUD Home, contact us today!