Homeownership Incentives from HUD

The U.S. Department of Housing and Urban Development (HUD) offers incentives on the purchase of HUD foreclosed homes in an effort to make homeownership more affordable. Under this program, people can get an FHA loan to purchase a HUD home for only $100 down.

The obvious benefit of this program is that someone can get into a government insured FHA loan without the required 3.5% down payment. However, many people don’t want to participate in this program because they think these homes are run-down $12,000 homes that are not even livable.

The truth is, some of them used to be, but no longer. Back when the housing market was booming, only run-down homes could be found in this program, because those were the homes that were being foreclosed on. However, in the current market, with foreclosures above what they were previously, there are plenty of homes available through this program. In addition, HUD has a minimum home value for this program, so that is one less worry for home buyers.

So if you’re looking to purchase a home, this program might be for you. There are plenty of homes in the $100,000 - $200,000 range that you could get into for only $100. That’s how HUD is working to make homes affordable, and CREFCO is doing everything it can to help you get into programs just like this.

Get started today online or call us toll free. (866) 854-4242.