If you want to buy a home but you don't have a big down payment there are options

Buy a HUD home with only a $100 down payment

HUD homes are homes that are owned by the federal department of housing and urban development. Generally, they are foreclosures in which the defaulting borrower had a government insured loan; typically an FHA or VA Loan. The process of purchasing a HUD home is different than other properties and only a trained and registered HUD agent can place bids for them on your behalf. Luckily, you have come to the right place because the Real Estate For Atlanta agents are qualified to sell HUD homes. You can search all HUD homes here.

FHA Loans With 3.5% Down

You can borrow as much as $271,050 with a 3.5% down payment. So, for example, you can purchase a $150,000 home with only about $5,000 cash.

Georgia Dream No Money Down And Special Financing Options

The Georgia Department of Community Affairs offers financing options for first time home buyers that make use of state allocated stimulus money. This program is not just for very low income families. In fact, you can earn up to $82,000 per year and still qualify for a very cost effective 1st loan and a special no interest and no payment second loan as well as down payment assistance up to $7,500. Please note that these loans can take significantly longer to close and the delay puts a higher risk on sellers; so you may run into some resistance when purchasing a home that is in a bidding war with multiple offers on it. There are also some restrictions that you'll need to be aware of as the rules are rather complex. Finally, you will need to attend one of their home buying training classes as part of a condition of qualifying. Still, for the right buyer in the right financial situation, this can be an attractive option. For more specifics, you can reference the following brochure

Police, Firefighters, Teachers and Doctors have special options available

There are special financing options and even discounts of up to 50% on HUD homes for some properties if you are employed in one of these jobs that is giving back to our communities.

Military Veterans VA Loans - No Down Payment Required

If you are a military veteran, you can get a VA loan which will not require you to put a down payment at all.

There are a tremendous number of programs available and the Real Estate For Atlanta Team and our strategic partner lenders are eager to help you find the option that is best for you