Buying a foreclosure is not for everyone. Most go to investors because they have the cash to pick them up or out bid home owners who have little or no money to put down. A great program to
ZERO DOWN Home Loans For Disaster Victims
FHA 203h is a Disaster Victims Program that offers 100% financing to individuals or families whose home was destroyed in a Presidential-declared disaster area, whether they owned the home OR rented it!
The new home does not need to be in the same area that it was previously located.
Minimum credit score only 620! Home payments need to have been paid on time the 12 months prior to the Disaster.
Homebuyers have ONE YEAR from the date of the Declared Disaster to apply for the program.
Eligible for owner occupied, single family residence, and FHA approved Condos (I will be sending a list of FHA approved condos before the end of the week!)
Home must have been destroyed or damaged to such an extent that reconstruction or replacement is necessary (you cannot use the 203(h) program to rehabilitate a home)
Check the FEMA WEBSITE
No down payment required -- the closing costs can come through either seller concession (up to 6%) or premium pricing on the interest rate, or buyer paid.
39 counties impacted in Texas!!
Click our Link Below for VIdeo