How to purchase a hud home with only $100 down.

Hud has this amazing program going on now until September which it allows you to purchase a hud home with only $100 down payment!

Find a hud authorized Realtor. Find a repitable loan officer, bank, or credit union to get your pre-approval. If you don't know of a loan officer your Realtor can help you find one.

To qualify for this program you must be approved for a Fha loan. Here is an example of how the program works.

Once you find the home you want to purchase, which you can find on www.hudpemco.comyou have to put down $1000 as earnest money. Earnest money is used to let hud know that you are serious about the purchase of this home.

Fha loans are 97% which means you have to pay 3% of what ever your loan is, say your loan is $160,000 3% of that is $4,800. Here is where the $100 comes in with this program, instead of paying the 3% you only pay $100! That $1,000 that you put down goes towards your closing! Hud also will pay 3% of the loan amount to go towards closing! Leaving you to pay little to nothing at closing time.

If you are interested in purchasing a hud home, please give me a call today!