Well, first things first. You will need to have your pre-approval letter up front in order to actually put an offer on this property. Getting your pre approval letter from a lender is the very FIRST step, not the second step, in moving towards home ownership. So if you do qualify for a loan, then you may be eligible to purchase this lovely brick home in Covington, KY for just $100 down, according to the great $100 down program that HUD is offering!
This property is located at 417 East Southern Avenue and is listed at $35,000 with a repair escrow of $3,300. That means that you will need to address the $3,300 worth of repairs called out by HUD that are needed to bring this home up to FHA standards. This is done during the first 90 days AFTER closing. The HUD buying process allows for the full repair amount to be added into your loan!
Covington, KY is located just across the Ohio River from Cincinnati, OH and just east of the I-75 interstate in Kenton County. Further east is the Licking River which separates Covington from Newport. The famous “MainStrasse Village” is located here and features many popular eateries and stores that attract customers from all of the Greater Cincinnati Area. Another famous landmark is the Cathedral Basilica of the Assumption, which is based off the Notre Dame Cathedral in Paris…just exquisite!
For those of you who are not familiar with HUD homes, these are merely homes in which the owner had an FHA loan and defaulted on the payment. FHA loans are backed by the government, so when the foreclosure occurs, the home is conveyed back to the government and ends up going back on market through the Dept. of Housing and Urban Development, or HUD for short.
NORTHERN KENTUCKY Real Estate Sales - Cathy Miles Realtor®
CINCINNATI, OHIO Real Estate Sales - Cathy Miles Realtor®
I specialize in helping buyers & sellers with their real estate needs in Northern KY and in
Cincinnati, OH . With passion, I invite you to board my boat for your next destination and
allow me the opportunity to help you navigate the ever changing currents of this incredible
just ask cathy...513.673.7726 firstname.lastname@example.org
Helping to educate buyers & sellers to make sound real estate decisions. ____________________________________________________________________________________________________________________