Low Down Payment Information for Buyers


Buy a Florida HUD home for 100 dollars down using a government insured mortgage loan!  If you are a qualified buyer, you can use a FHA loan to buy a HUD owned property specifically designated for this program......with only a $100 down payment!

The 100 dollars down HUD Program is available to all qualified owner-occupied home buyers.  To use this program, the buyer must purchase a HUD home for full price and use an FHA insured home loan. 

World Impact Real Estate is approved to assist you with your HUD bid on any home in Florida.  Ask us about Walton County HUD homes, Okaloosa County HUD homes and Bay County HUD homes.  We are an approved HUD broker on the Emerald Coast.  Search for your HUD home here.

100 Dollars Down Program Information

The US Department of Housing and Urban Development (HUD) has announced a sales incentive program available for qualified buyers.  This program is available for a limited time and allows buyers to buy a HUD homes with 100 dollars down.  The buyer must:

 - Live in the property for a period set by HUD guidelines (investors do not qualify for this down payment)

 - Offer the full asking price for the home

 - Use an FHA loan for the purchase

  - Buy a HUD owned property

On average, the most common loan type for Emerald Coast buyers to use when purchasing property is an FHA insured loan.  If a homeowner does not make the payments, the home is foreclosed on.  During this process, the home becomes the property of HUD.  If the loan however was not an FHA insured loan, the foreclosure property will likely end up as REO for a bank or other agency such as VA, FNMA (Fannie Mae) or FHLMC (Freddie Mac)  The 100 dollar down program can not be used for these types of homes.  Other areas of our site cover these types of programs.

Not all buyers will qualify for the program. You will have to meet the qualifications of an FHA Insured mortgage loan.  If you do not qualify currently, be sure to ask your lender for a plan to help you qualify.

100 Dollar Down Program Requirements

Owner occupancy

Primary Residence -- buyer must live in the home for at least one full year
Purchase price
Buyer must make full price offer to HUD (i.e. must offer HUD's full asking price)
Loan types available
FHA Fixed Rate 30 year, FHA Fixed Rate 15 year, FHA Secure 30 or 15 year, FHA Stimulus 5/1 ARM (Adjustable Rate Mortgage)
Must be able to document enough income that your debt to income ratios are 31% / 43%
Maximum loan amount
Property types
Single family residences, town homes, Planned Unit Development homes, condos
Credit Score
Minimum credit score is 580(*)
Minimum 24 months since discharge of any bankruptcies; 36 months since any foreclosure
(*) Many lenders are requiring middle credit score of 620 or higher
All borrowers must have a valid social security number. All borrowers must demonstrate 2 years of employment history.
Permanent Resident Aliens --
- Evidence of lawful, permanent residency issued by the Bureau of Citizenship and Immigration Services (BCIS), formerly the INS.
- Copy of the Alien Registration Receipt Card (Resident Alien card), I-551
- Non-Permanent Resident Aliens
- Primary residence
- Borrower must be eligible to work in the U.S.
- Evidence of valid Social Security number required
- Evidence of residency and work status to be obtained through documentation from US Bureau of Citizenship and Immigration Services (BCIS) formerly INS
- Copy of the Employment Authorization Card, I-688B. This card carries an expiration date.
- A social security card is not acceptable as evidence of work status.
There is no reserves requirement for the program
Mortgage Insurance
FHA mortgage




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