REO Incentives Program lowers the price of a HUD in Ohio

Ohio REO owner/occupant homebuyers will be able to:

Purchase a HUD for $100 down using an FHA loan

Obtain a $2,500 sales allowance @ closing that can be used towards closing costs, to make repairs to the home or o pay down the unpaid principal balance of the mortgage

FHA – Insured Loans Offer:

Low down payment requirements

Competitive interest rates

Flexible credit qualifying

Assumability

Pre-Foreclosure Protection

FHA 203(k) Rehabilitation Loan

Allows homebuyers to borrow funds to acquire and then repair a property

Purchase and repair costs are rolled into a single mortgage with repairs completed after closing

A stremlined version of the 203(k) program allows borrowers to make minor home improvements without the documentation and costs of the full 203(k) program.

The new incentives program will be offered through September 30, 2008. Visit the FHA Home Page  more information, or call 1-800-CALLFHA.

Visit The Chapman Law Firm to search HUD homes in Ohio.