Columbus and Central Ohio HUD home foreclosure update
The Columbus Ohio real estate market offers a wide variety of homes for sale, including HUD Repo and bank owned foreclosure properties. Since buying HUD Repo, bank short sale and bank foreclosure properties is so popular in the Columbus Ohio area, I thought I’d share this update on a great program to buy HUD homes in Columbus and Central Ohio for ONLY $100 DOWN. FHA has extended the $100 HUD Repo Program that allows borrowers to purchase HUD-owned properties.
The Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) are extending the Sales Incentive Program in Ohio, for OWNER OCCUPANTS only. This Ohio HUD program offers huge sales allowances for owner occupants:
- Buy HUD homes for ONLY $100 DOWN PAYMENT
- Buyers using FHA receive $2,500 at closing to use on repairs, closing costs or to lower their mortgage amount.
- Buyers can obtain up to 3% in seller paid closing cost assistance.
Many HUD homes in Columbus and Central Ohio that I’ve seen typically need work. So it’s important to note that in addition to requiring only a $100 down payment for HUD homes, borrowers may also obtain financing up to 110% of the loan amount to have extra money for repairs. Appraiser-required repairs up to $5,000, all closing costs and pre-paid expenses may be financed up to 110% of the lesser of the appraised value or purchase price.
ALL COLUMBUS AND CENTRAL OHIO HUD HOMES ARE LISTED ON THE COLUMBUS OHIO MLS
The Columbus Ohio MLS – Multiple Listing Service is a database of real estate listings in Columbus and Central Ohio used by all Columbus Ohio REALTORS, who are members of the Columbus Board of REALTORS, to post their real estate listings. Since HUD homes are listed by Columbus Ohio Realtors, you’ll find them listed on the Columbus Ohio MLS. In fact, Columbus and Central Ohio HUD homes are not available to bid on until they are posted on the Columbus Ohio MLS and you must go through a REALTOR to place your bid.
In addition, banks also list their foreclosure properties with Columbus Ohio Realtors. So you’ll find bank owned foreclosure properties listed on the Columbus Ohio MLS – Multiple Listing Service as well.
As a Columbus Ohio REALTOR, I have access to all HUD homes in Central Ohio.
As a full-time REMAX Columbus Ohio Realtor and Accredited Buyer Representative, I’d be happy to help you find your ideal home – whether it’s a HUD Repo, bank foreclosure, short sale or negotiate to get you a good deal on any home listed for sale in Central Ohio. Plus, I’ll look out for your best interests throughout the process, AT NO COST TO YOU. That’s right – it doesn’t cost anything to have a buyer’s agent working for you.
GET FREE COLUMBUS AND CENTRAL OHIO HUD HOME LISTING UPDATES
I can set up a search to email you with any new HUD Repo, bank owned foreclosure properties, short sales and more – the same day they come on the market. Just share information about what you are looking for by completing my Columbus Ohio Home Finder Service Form OR call Petra (Pay tra) at 614-895-0496 anytime from 8am-10pm EST to get started.
You can also search the Columbus Ohio MLS for all Central Ohio Real Estate listings on the internet at www.columbuscastles.com/search-columbus-mls