BUYER INCENTIVES



HUD wants to help buyers purchase a new home. A variety of incentives exist to achieve that goal.
  • $100 downpayment for purchasers using FHA financing. Owner Occupants Only.  (Yes, you can finance all but $100 of your mortgage.)
  • 203K loans.  A type of FHA loan allowing you to finance repairs and improvements up to $35,000 into the mortgage.
  • And don't forget, HUD will allow up to 3% of the purchase price for allowable closing costs, including loan origination fees.   (In practice, this usually works out to be between $1500 - $2000.)  My suggested bids do NOT include closing costs.  If you select this option, the minimum bid will increase accordingly.
Buyers who take advantage of all incentives can usually get into a HUD home for about $2000, sometimes for only $1000. 

Eligibility varies per property, loan type, and listing date, and may be discontinued at any time.  Please ask for specific incentives available when you inquire.