LIMITED-TIME INCENTIVE PROGRAM FROM US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD)
You can now buy a home with $100 down payment and finance it using FHA Home Loan Program. This is a limited time incentive program from HUD.
$100 DOWN PAYMENT – FHA HUD PROGRAM:
- Home buyer will live in the property for a minimum of 1 year (investors are not qualified for this HUD incentive program)
- Home buyer must offer the full asking price for the home,
- Home buyer should use FHA loan for the purchase of this home
HUD incentive program – $100 Down Program to Buy a Home is designed to attract home buyers into the market to move excess housing inventory and these incentive programs run for a short time, so if you are looking to purchase a HUD home or need more information about this program and HUD homes that qualify, please call FHA Home Loan Group for more information.
Here are some additional eligibility requirements to consider for the $100 Down Payment HUD Program:
- The home must be a HUD owned home
- The home buyer must use a HUD registered real estate agent or broker to qualify for this incentive program
- The property will be purchased by the home owner on an “as-is” basis
- This program can not be combined with Streamline 203K or a 203b Repair Escrow transaction
- The property must be in an eligible HUD area
- The subject property must be located in an eligible area only
- Eligibility is determined by HUD
- Contract of the Home Sale must confirm a $100 down payment program
- Loan to Value (LTV) should show that the home buyer (loan borrower) has contributed $100 towards the purchase of the home (sale price) — the appraisal value should support the sale price or higher
- If the home appraised value is less than the sale price, the home buyer (borrower) will need to add to the purchase price to equate to $100 to meet the required down payment – speak with a HUD real estate or call FHA home loan group for specifics.
Enter information to below to find HUD homes that qualify for $100 Down Payment program using FHA Loan