One of the advantages of purchasing a Coweta County HUD home for sale is that many buyers qualify for a down payment as low as $100.
You must be buying as an owner-occupant, and you must be able to qualify for an FHA loan for the amount of the bid, plus any rolled in expensed such as the 2.25% up-front mortgage premium.
The one caveat that buyers need to be aware of is that a $500 earnest money deposit is required for bids up to $50,000 and $1,000 for houses over $50,000. This deposit will be applied as a credit towards the $100 down payment and any closing costs that are not paid by HUD.
For more information contact a Realtor that is experienced in HUD sales!
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