$100 Down Payment Incentive on Wyoming HUD Homes
March 5, 2008
The government is currently running a $100 down payment incentive on HUD homes for sale in Wyoming. In order to qualify you must bid as an owner-occupant, pay the full starting bid price, and use FHA-insured financing. When putting together your bid, make sure $100 is entered as the down payment amount. Note that if you bid above the appraised value of the property, you can still have a $100 down payment but you will be required to pay the difference between the appraised value and your bid amount at closing.
Qualifying to Bid on HUD Repos
February 7, 2008
Before you bid on a HUD property, you need to meet certain qualifications. Most importantly, you’ll need a pre-qualification or pre-approval letter from your lender and an earnest money deposit (usually between $500 and $1000). Yes, you read that right: you’ll need to get a certified check for the earnest money before bidding.
To learn more about preparing to buy, check out this article: How to Qualify for Purchasing HUD Repos.