In an effort to increase the affordability of homeownership, the Federal Housing Administration (FHA) is announcing sales incentives on purchases of
HUD Homes in Michigan. These incentives available on HUD homes sold to owner occupant purchasers with a minimum sales price of $25,000. The incentives
have been extended beyond September 30, 2008 until further notice. Find the list of available properties online.
- Sales allowances that can be used to pay closing costs, make repairs, or pay down the mortgage amount.
- Broker bonuses for owner-occupant sales.
Why Use FHA Financing? FHA-insured financing has been used by millions of Americans to purchase a home. It is a safe, affordable way to obtain the dream of Homeownership. FHA-insured loans offer low down payment requirements, competitive interest rates, and flexible credit qualifying. Find an FHA-approved lender in your area.
Fix up your HUD Home with the FHA 203(k) Program. For those properties that require fixing up, FHA has a loan for rehabilitating and repairing properties called the Rehabilitation Loan program or 203(k). You can get just one mortgage loan which includes the mortgage and the cost of repairs combined.