Government Foreclosure Financing Programs
HUD sells homes that
are claimed as a result of failed FHA loans. HUD homes are sold "as is,"
but often they can be very good deals. FHA will finance the purchase of
a HUD home. FHA has home financing programs with down payment requirements
as low as 3% -5% down!
VA
Foreclosure Financing
VA sells mostly single family
properties that are acquired as the result of foreclosures on VA guaranteed
loans through the facilities of 46 regional offices. Property listings
for most offices are available on the Internet or by direct mail. If you
are interested in buying a VA property, find out about VA-acquired properties
listed for sale in the specific area you are interested in.
VA will
finance the purchase of a VA-owned property. Vendee financing (i.e., seller-financing)
is available for most, but not all VA, property sales. With vendee financing
the down payment requirements are as low as $0 down, and the interest rate
is established by VA based on market conditions.
You do not
have to be a veteran to purchase a VA-owned property or qualify for vendee
financing. All VA properties are available for sale to both veterans and
non-veterans.
Freddie
Mac Foreclosure Financing
When you're in the market
for a home, Freddie Mac offers a variety of single-family homes, townhomes
and condominiums - all across America. All are value-priced, and many are
refurbished to like-new condition. Every home we sold by Freddie Mac is
ready for immediate move-in.
Freddie
Mac's Special Financing also makes it affordable to own your own home.
With the program, you can save money each month through competitive interest
rates,
no mortgage insurance lower title and escrow fees, only 5% down on all
available homes.
Not ALL government grant programs are
advertised!
That's why some of the grant
packages and programs are very valuable. They have found those resources
that you will have a hard time finding on your own. The grant packages
listed below have done all the work for you.
A few are:
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