HUD Offers Columbia South Carolina REO Homes for

$100 Down….

HUD has approved a program that will help get Columbia foreclosed homes back into the hands of owner-occupied buyers. HUD $100 down payment program can also be applied to FHA 203K loans, which can be used to fund repairs and renovations of the home. The 203k program allows Columbia buyers to finance both the mortgage and additional money for rehabilitation needs with a single government- insured loan.  With an FHA 203k loan, Columbia buyers can find a property that needs some TLC, fix it up however they want to, and finance the whole thing for $100 down. In addition to $100 down instead of FHA’s typical 3.5 percent down payment, HUD says it will also cover up to 3 percent of the closing costs in most cases.

So now lets say you find a home that you love but the roof leaks or the kitchen is outdated. For your house that is almost perfect, with a FHA 203K mortgage and home improvement loan all in one you can,

  • Remodel kitchen
  • Paint the house or add siding
  • Replace a leaky roof
  • Install new flooring
  • Repair/replace HVAC
  • Update electrical wiring
  • Repair/replace plumbing
  • Add new appliances
  • Paint the interior
  • Finish the basement
  • Remodel bathrooms

Read complete article: http://www.dsnews.com/articles/hud-offers-reo-homes-for-100-down-in-select-states-2011-10-24

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