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Please see the quick video below for the HUD 100 down program overview. This is a great program for first time homebuyers looking to purchase a home for little money out of pocket. Home buyers in more rural locations should also check into the 100% usda mortgage at www.UsdaMortgageSource.com FHA Mortgage.
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Rolled out in 27 states across the U.S., the $100 Down program makes government owned foreclosures available for purchase with just a $100 down payment. And, these homes are available with an insured FHA loan for owner-occupants. Monthly payments can be so low, buyers find it cheaper to own than to rent a similar home. Plus, these HUD homes.
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Find a HUD home for sale – check the HUD Web site for eligible properties. Find a HUD-registered real estate agent. Find an FHA lender. HUD will also make the $100 down payment eligible for the FHA 203(k) loan program, which allows borrowers to access FHA loans to repair and renovate run-down homes. A review of the HUD Web site doesn’t.
HUD $100 Down Payment Loan Program Is For Primary Residence Buyers Only. Strict occupancy requirements must be met. Meaning if you are an investor, you will not be able to utilize the $100 down payment program; The $100 down payment may only be used to purchase a HUD-owned property; Typically, you need 3.5% as a down payment
Please see the quick video below for the HUD 100 down program overview. This is a great program for first time homebuyers looking to purchase a home for little money out of pocket. Home buyers in more rural locations should also check into the 100% USDA mortgage at www.UsdaMortgageSource.com FHA Mortgage.
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