$100 down payment program

$100 down payment program



$100 down payment A HUD owned home is a property that has been foreclosed on and the originally loan was an FHA mortgage. The homeowner could not make the payments and HUD foreclosed and took the property back.

This is a special program were both the real estate agent and the lender have to be approved to offer this program. 

You can buy a HUD owned property for only a $100.00 down payment. HUD owns the property and  offers special financing.

  • low down payment only $100.00
  • competitive interest rates
  • flexible credit qualifying
  • more protection to keep your home
  • HUD homes for sale 

Sales incentives: $100 down payment - for qualifying owner-occupant buyer with FHA financing only.

The $100 HUD program allows borrowers to buy a home in which they plan to live in using an FHA loan. Buyers can structure their offer with a 6% seller concession for closing cost. HUD allows you to buy a home for $100 and HUD will pay for your closing cost. This means you can get into a new home with very little money out of your pocket.

HUD homes eligible for the $100 program have all been foreclosed and were previous loans that were FHA loans. HUD sells the homes they own at attractive prices and economical terms.

FHA credit score are less stringent than conventional mortgage credit score. FHA will still look at credit, income, assets and ability to repay the mortgage loan.

FHA doesn't require you to have a traditional credit history in order to consider your reliability.

They will also consider whether you've had a bankruptcy in the last two years. You should have a good history of on-time payments in the last two years and be current on all payments. If you're in default on any student loans, you will not qualify for an FHA loan.


Credit score

January 20, 2010 - New FHA announced a policy change to address risk and strengthen finances. FHA has changed the minimum credit score for new borrowers:

  • FHA requirements new borrowers will now be required to have a minimum credit score of 580 to qualify for 3.5% down payment
  • FHA loan requirements new borrowers with less than a 580 credit score will be required to put down at least 10%
  • This allows the FHA to better balance its risk and continue to provide access for those borrowers who have historically performed well 


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