Buyers Can Purchase a HUD Home For $100 Down

Contrary to popular belief, HUD homes—foreclosed homes owned by the Federal Housing Administration (FHA)—vary in price, location and condition.

HUD homes, some of which are move-in ready, are available for purchase by owner occupants, investors, government agencies and HUD-approved not-for-profit organizations.

If you are looking for an excellent bargain, HUD homes are a great option.

Here are some key facts about HUD Homes:

• Can be a one-to-four unit single-family residence.
• Anyone can buy, there are no income restrictions.
• Firefighters, EMTs, police and teachers can take advantage of additional HUD home discounts.
•  Specific requirements  must be met  for  participation.
• A $100 down-payment is available for all homes purchased by owner occupants who use FHA Financing.
• Owner occupant exclusivity is offered during certain bidding periods to increase purchasing opportunities for owner occupants.
• No limit on the number of properties an investor may purchase.
• HUD home purchases provide a vehicle for wealth building

For more information about HUD homes visit the HUD Homes website or consult southwest Atlanta-based HUD certified Agent Shirley Simmons, Prudential Georgia Realty.

Special thanks to PEMCO, Ltd. Asset Management Contractor to the U.S. Department of HUD; Prudential Georgia Realty's HUD Division; and the HUD Homestore for the information for this article.