HUD Offers Tennessee Homes For $100 Down

HUD homes in Tennessee are included in a special program to create more owner occupants for their foreclosed homes.  From now through October 2012, buyers only need a down payment of $100 to purchase a HUD-owned foreclosure.   The buyer must be an owner occupant, who is using FHA financing and the sale price must be the current list price.  This HUD program can also utilize the FHA 203K Rehab loan.  The FHA 203K loan allows a buyer to finance the purchase of the home and the funds for additional repairs with one loan.  HUD stated that they will  cover up to 3% of closing costs in many cases.  HUD owned homes listed in the following state will also be included in this program:

  • Alabama
  • Arkansas
  • Colorado
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Missouri
  • Minnesota
  • Mississippi
  • Montana
  • Nebraska
  • New Mexico
  • North Carolina
  • North Dakota
  • South Carolina
  • Tennessee
  • Caribbean

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