$100 HUD Down Program Is Back!

...

This sounds like a GREAT deal: Rather than requiring a 3.5% down payment on foreclosures it’s trying to sell, HUD now only wants 100 bucks to close the deal “WOW”

Yep,Friends, the U.S. Department of Housing and Urban Development has brought back the $100 down payment plan in Southern and Western states. It could be an amazing opportunity for  many first-time home buyers
The details:

  • The $100 down program is available only for people who will live in the home, not investors.
  • Your real-estate agent has to submit a bid for the house online.
  • You have 12 months to get in on this deal.
  • Your financing must be FHA-insured.
  • You might have to have more skin in the game. Active Rain explains:
The $100 down payment incentive is only available if the purchase price of the home is equal or less than the appraised value of the home. If you have an accepted bid for over the appraised value of the home you must bring the difference as down payment to the closing.