HUD announced they are bringing back the $100 down program for a limited time in Colorado, New Mexico, Utah, and North Texas (1D Denver HOC). The program was originally limited to running from 6/01/2018 through 7/31/2018. As of 6/29/2018, the program will be available to these state through 7/31/2018.
The $100 down program is only available if the asset is listed as Insurable (IN), Insurable with Escrow (IE), or Uninsurable (UI) 203K. Bids do not have to be full priced offers, however must meet our defined percentages of acceptance. Owner Occupant purchasers wanting to take advantage of the program must use FHA financing and the bid must be accepted from 6/01/2018 thru 6/30/2018.
As a reminder, the $100 Down Program is available in the Philadelphia and Atlanta HOC states as a more permanent incentive program. These states have different rules and qualifications. If you are in any of these states and would like to learn more, please click here to review Mortgagee Letter 2011-19.Tags: $100 Down Program, FHA, HUD, HUD Programs, Owner Occupant, Sage information