With the glut of foreclosures in the Georgia market narrowing down your purchase options may seem daunting. However, for many first time home buyers one of the easiest and most profitable ways to purchase a home is to focus on the HUD foreclosure market. Why? Because in Georgia HUD Homes are available at HUGE discounts and for only $100 down!
HUD foreclosures are homes that previously had FHA loans on them. Many of them fall into the perfect price range for the first time home buyer. Generally, you will see many of them listed in Georgia between $50,000 and $150,000. This listing price is usually at a deep discount to “as is” value and an even deeper discount if you are looking for a fixer upper to finance with a FHA 203K renovation loan.
Since HUD has an unusual amount of homes on the market right now they have been forced to offer some FANTASTIC incentives to purchase. The best, and most widely used, is the $100 down payment incentive I mentioned above. However, recently they have started offering another incentive to buy, a $1000 credit at closing. Yep, only $100 down AND you get $1000 back at closing. In other words HUD is PAYING YOU $900 to purchase some of their homes!
FHA 203K renovation loans are tailored made for this market and are absolutely perfect for HUD foreclosures. The reason the match is made in heaven is that HUD foreclosures come with a appraisal and work write-up BEFORE you buy. That makes it easy to know what needs to be done and how much it is going to cost before you go under contract. Their guidelines are simple; if the repair is under $5000 they will escrow the money you need for the repair. You have the option of pursuing a traditional FHA purchase loan OR if you’d like to do more upgrades then they have allocated money for you can go with a FHA 203K renovation loans.
If you are in the Georgia or Alabama market and would like to purchase and renovate a foreclosure you should call us. We are the experts and we have the procedure down cold. This is not the type of transaction you want a rookie loan officer handling. If you’d like more info on HUD foreclosures or on FHA 203K loans then check out my website 203KLoan.net. We can even guide you on how to save huge on your monthly energy bills by renovating GREEN.
FHA 203K Specialist
404-551-3845
*This is not an offer to lend. 
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