The main thing you need to qualify for are the income limits.

I work alot with HUD homes and my company is a local listing broker for HUD.

You can now consider homes that don't qualify for FHA since the $8K tax credit can now be applied as a down payment. This opens the window to purchase a better deal on a home that may need a little more work. Sounds like you can handle that being a handyman!!

Let me know if you need help finding a great HUD home. We are the best in the HUD biz!!

James Dudley
ERA Sunrise Realty
678-781-7418

Seedsower,

Great question. It is good that you have some funds set aside. In most cases, you'll likely need to have around $2,000 to contribute toward the transaction (earnest money deposit, appraisal fee, inspections, etc.). Any repairs must be completed by a licensed contractor, but your experience as a handyman will be quite useful too. For more information on the NSP program, read the flier to the left of the screen at the link below. It will provide a good overview of how to qualify for the NSP program, including income limits by household size.

When it is time to move forward with a transaction, you should rely on someone who has on-the-job training on the use of the NSP funds. I have about four of these transactions either under contract or in the negotiation phase, so please call on me should there be any questions.

Solomon Greene
REALTOR® / HUD-Certified Affordable Housing Consultant - Keller Williams Realty Atlanta Partners
(678) 775-2677