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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Richard, we don't see many HUD homes in my area, but I have often thought if I ran across one that buyers of mine wanted... guess who I am calling?
Great deals to be had in your location to buy a HUD home.
Richard, we have a fair number of HUD homes in Kansas City. They can be good deals for buyers. I'm glad that you mentioned the EMD - some agents forget to mention that little detail.
Rchard,
There are not many HUD listings in the San Francisco/ San Mateo area, but I have seen some listings in Hayward and in San Jose CA. I think buyer should take advantage of this great opportunity in your area. Good luck!
Richard,
Just got HUD trained, got our key and NAIDs # and are ready to rock. Going to start putting link to the HUD sale site in blog posts next week. Well done...your website is great by the way.