Thursday, 14 January 2010
HUD currently offers a $100 down payment program. WOW!
Here's the scoop on the program:
1. You must live in the home. Realtor lingo: owner occupied
2. You must offer the full asking price
3. Your loan must be financed with FHA insured financing
4. HUD will give up to 3% for closing costs - another savings for you!
5. You will need to give earnest money. The earnest money is credited back to you at the time of closing. A house priced at:
$50,000 and under earnest money is $500
$51,000 and up earnest money is $1000
In San Antonio,Texas we currently have approximately 57 HUD homes available for purchase. There are about 75 homes under contract.
40 of the homes currently on the market are under $100,000!
Between the HUD program and the home buyer tax credit it might be a good time for you to consider buying a home.
Call me today and let's see if we can find you the perfect HUD home!
