$100 Down FHA Program

HUD is currently offering a $100 Down payment initiative. The $100 down payment is for owner occupants (Any individual who purchases a HUD home as their primary residence for it for at least 12 months after closing and who has not purchased a home from HUD as an owner occupant in the past twenty four months) purchasing a HUD Home with FHA financing, with full price offers. This incentive is also available to owner occupant purchasers who obtain an FHA Home Repair loan. It's a great time to Purchase a HUD Home with FHA financing. This special sales incentive will be offered beginning with new and re-listed properties beginning November 23, 2007.

Note: Earnest Money Policies and all other contract requirements will remain the same; these incentives do not apply with any other discount programs HUD endorses. "Full Price Offers" refers to the current list price. $100 Down payment financing is available on most properties through FHA approved lenders. If the purchase price is greater than the appraised value, the purchaser will be responsible for the difference between the overbid amount to be paid in cash at closing. Any previous guidance to these terms ended effective October 3, 2008.  For further information please refer to Mortgagee Letter 2000-27.