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11/16/2007
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In an effort to increase the affordability of homeownership, the Federal Housing Administrations (FHA) is announcing sales incentives on purchases of HUD Homes in Philadelphia, Bucks, Delaware, Chester and Montgomery Counties. These incentives are available on HUD Homes bids placed on or after November 15, 2007 and expire on September 30, 2008. There are hundreds of properties available in the five county area. Find the list of available properties online.
$100 Down Payments! Homebuyers can purchase a HUD Home with a $100 down payment when they utilize FHA-insured financing .
$2,500 sales allowance! Homebuyers can also obtain a $2,500 sales allowance at closing when they utilize FHA-insured financing. The sales allowance is paid at closing in one of three ways: 1.Closing costs, 2. Repairs, 3. Reduce the mortgage amount.
http://www.hud.gov/salesincentives
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