HOMES FOR $100 DOWN!!!

HUD HOMES F O R   S A L E
NEW CONSTRUCTION & HOMES OF ALL AGES
Sonya D. Jones
REALTOR® / Consultant
$100 Down Program HUD
Owned Georgia Homes

For a limited time, $100 is all that is needed for credit eligible owner-occupant buyers to purchase HUD-owned Georgia Homes using FHA Financing or for those obtaining an FHA home repair loan. This program differs from the Georgia First Time Home Buyer Program (but can be combined with it) because,
It may be used regardless of whether the buyer has owned a home within the past three years.

There are no limits on the amount of household income
First time home buyers (or those who have not owned a home in
the past three years and meet the income test) may have access to the Federal Tax Credit.

Further, HUD will likely still contribute up to three percent toward buyer closing costs, which could make the total funds required of the buyer to close well within reach. Restrictions apply.

Contact Me for More Information:
2280 Satellite Blvd., Duluth GA 30096
Switchboard: (678) 755-6590
Fax: (866) 399-4166
Email: sonyajones@remax.net
Website: http//:www.BestHomesInGeorgia.com
Blog: sonyadjones.blogspot.com/

Invite me to your morning meeting, after Sunday Services or lunch and learns and discover how easy it can be for your staff to achieve the American Dream of Home Ownership!

Call THE SONYA JONES GROUP Today!

Each Re/Max Office is Independently Owned/Operated. Information deemed reliable, but not warranted.

Virtual Tours of HUD-Owned Georgia Homes and Listings at www.BestHomesInGeorgia.com.

-----> I was skeptical at first, but quickly realized that this could actually work. I’m pleased to say that it did and I am a new home owner.” James M. – Closed April 2008.

------> I had to cancel a transaction due to a personal challenge. Solomon had written the contract so that my earnest money could be returned in such a situation. Wecame back later and bought and we’re glad we did with him.

Bill and Jenna K. – Closed July 2008
Thursday, February 4, 2010

A Down Payment Assistance Snapshot for the GA First Time Home Buyer
Here’s a snapshot of some of the various active Georgia Down Payment Assistance Programs to help the GA first time home buyer determine which program will work for them. Funds are provided through a soft second mortgage (an interest and monthly payment-free mortgage) that is forgiven after a set period of ownership and the borrower is still eligible for up to $9,800 in federal tax credits. Most programs are restricted to those whose incomes are at 80% of the average median for their household size while others are offered at 100% of the average median for the household size. See the flier to the left of the screen for details, restrictions and more.

State of GA First Time Home Buyer Program – Branded Georgia Dream, the state offers soft second mortgages of up to $10,000 to be used to toward the down payment and closing costs on the purchase of single family homes, townhomes, condominiums and more. The borrower must be a Georgia First Time Home Buyer (has not owned a home in the past three years) and must use the first mortgage offered by the state.

The Atlanta First Time Home Buyer Program – The Atlanta Development Authority offers down payment assistance programs to the Atlanta First Time Home Buyer who is looking to buy within Atlanta City Limits. Qualified borrowers may buy eligible properties using one of or combining a few programs:
o Opportunity Down Payment Assistance Program (ten percent of the purchase price up to $252,890),
o the Atlanta Affordable Homeownership Program ($10,000 toward the purchase price up to $252,890),
o Vine City/English Avenue Trust Fund Program (ten percent of the purchase price up to $15,000)
o Beltline Affordable Housing Trust Fund (Up to 20% of the purchase price up to $$252,890) Gwinnett Down Payment Assistance – Branded HOMEStretch, Gwinnett County offers the eligible Georgia First Time Buyer up to $7,500 toward the purchase of single family homes, town homes and condominiums built after 1977.

Dekalb Down Payment Assistance – Dekalb County offers up to $8,000 in down Payment Assistance to be used toward the purchase of single family homes.
Neighborhood Stabilization Programs (NSP) - Municipalities are buying foreclosed properties within their areas of greatest need (areas hit hardest by foreclosures), rehabbing them, returning them to the market and then offering soft-second mortgages of up to $22,500 to be used toward the down payment and closing costs. Both the state (temporarily) and some local municipalities allow NSP Funds to be used by borrowers who have identified foreclosed properties within those areas to be used toward down payment assistance. If you are NOT working with an agent, please call for a list of Gwinnett and Henry County NSP properties.

HUD $100 Down Program – Granted, this is not a traditional down payment assistance program, but owner-occupant borrowers may be eligible to purchase a HUD-owned home for as little as $100 down. Up to one-thousand dollars in earnest money may be still be required, plus the inspection fee, and there may be instances when more than $100 will be required (i.e. multiple bids, etc.), but this program also provides a pathway to home ownership to those with little money for the down payment AND there are no income limits.

Other Georgia Down Payment Assistance Programs are available to the GA first time home buyer at various times throughout the year, but the funds do run out, so be sure to return to this blog frequently for updates. Again, if you are not working with an agent, please visit our office or call today for more information.