HUD $100 Down Mortgage Program
A HUD owned home is a property that had an FHA-insured mortgage and which was subsequently foreclosed. Once the foreclosure process is complete, HUD places the home for sale at market value in ‘AS-IS’ condition. Realtors must be registered through HUD to facilitate the purchase of these homes which are sold through a bidding process.
The HUD $100 Down program makes these government owned foreclosure homes available for purchase with just a $100 down payment! Very few lenders can offer this specialty program. Guaranty Mortgage is pleased to have this program available to our Texas borrowers. Check https://www.hudhomestore.com/Home/Index.aspx to search for available properties.
Requirements and Benefits:
- Only $100 down payment is required to purchase one of these homes (some closing cost may still apply)
- Lowest Down Payment requirement (very close to 100% financing.)
- Can be easier to qualify for than conventional loans.
- Often offers lower interest rates than conventional loans.
- Total loan amount cannot exceed FHA maximum county loan limits.
- Property must be a HUD owned home.
- Buyer must be able to make an earnest money deposit.
APPLY ONLINE >