$100 Downpayment - HUD Home Requirements
For a list of qualifying properties, click here and please specify area(s) you are interested in.
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Owner occupancy
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Primary Residence -- buyer must live in the home for at least one full year
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Purchase price
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Buyer must make full price offer to HUD
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Loan types available
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FHA
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Income
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Must be able to document enough income that your debt to income ratios are 31% / 43%
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Maximum loan amount
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$362,790
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Property types
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Single family residences, townhomes, Planned Unit Development homes, condos
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Credit Score
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Minimum credit score is 580*
Minimum 24 months since discharge of any bankruptcies
Minimum 36 months since any foreclosure
*Many lenders are requiring middle credit score of 620 or higher
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Eligibility
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All borrowers must have a valid social security number.
All borrowers must demonstrate 2 years of employment history.
Permanent Resident Aliens
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Mortgage Insurance
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FHA Mortgage Insurance is required on all loans.
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For a list of qualifying properties, click here and please specify area(s) you are interested in.
