Hud homes for $100 down

[Whitney Sams]

Greeting 

Are there any realtors on here that can help me out with finding a his home with the. $100 down program I am located in tampa fl. Or do anybody know anyone

Thanks

[Christopher Phillips]

It can be done. You can go to the Hudhomestore.com to search for HUD homes.

You'll need an agent registered with HUD in order to place a bid.

During the bidding process, they favor owner occupiers for the first 10-15 days. Then they open it up to investors. So you have to get in early.

HUD homes are foreclosed properties that had government insured home loans like FHA and others...

They want the homes to go to owner-occupants if possible. They have a few different programs, one being the $100 down owner-occupant program if you use FHA financing. However, you still have to qualify for the loan and you still have to pay closing costs. However, you can get up to 3% of credits or seller concessions to help with closing costs. They have more information available on their website.

Just remember, HUD homes come in all kinds of condition. So, some might need extensive repairs. In that case, you could use a 203(k) FHA insured rehab loan.

On a side note, it's hard to find HUD homes in certain parts of the country and they tend to go quickly in areas where they are hard to find.