HUD Loan Info
Most of the HUD Foreclosures pictured on this website can be purchased with FHA loans.
One of the FHA loans that can be used by an owner/occupant to purchase a HUD Foreclosure is the $100 Down Payment Loan. If you use the $100 Down Payment Program, you will be required to buy an insurance policy and establish a tax escrow account for the property. Total cash needed to close will exceed $100, but will be minimal. This low down payment financing is not available on bank foreclosures.
Another loan available to owner/occupant purchasers is the HUD 203K Acquisition & Repair Loan, which allows you to finance the cost of repairs and upgrades into your loan amount. Save your cash for moving! Banks are not able to offer this type of acquisition and fix-up loan on their foreclosures.
HUD does not provide financing for investors, but the agents at Sinclair & Associates have access to daily quotes for the best interest rates and terms available for investors. Call Sinclair & Associates 770 919-9100 to hear about the best loan available today.
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