• Search for your dream home

    Our tools can help you find the house you've been looking for and our team will help with lending options.

    Find a Home
  • A fresh approach to residential mortgage lending.

    We utilize only the most recent technology and best possible practices to ensure your time working with us is as efficient as possible.

    Get Started
  • Getting your mortgage loan just got easier

    We do all the work so you don't have to.

    Contact Us
  • Your perfect home is only a few clicks away

    Secure the home loan you need now. Use our convenient online loan application.

    Apply Now

$100 Down for HUD homes in Denver

Posted on November 15, 2011 by Ray Williams (NMLS #216267).

So you may have heard that there is an ability to put down $100 and buy a HUD home. However, there are a few details , one in particular to pay attention to. Whenever you take out an FHA mortgage you finance a 1% upfront mortgage insurance to your loan. On a traditional FHA loan, that is added in after your down payment, so you effectively finance 97.5% of the house.

However, on the $100 with HUD you are only capable of financing this in when the addition of this 1% upfront mortgage insurance to your total loan amount will not cause your loan to exceed 100% of the value of the house. I would possibly be prepared to bring this to closing, or work with your lender on an alternative solution. A smart lender will propose an alternative solution in case you aren’t financially prepared to deal with this extra cost.

To find a HUD home click here: and then you can apply for the loan program to make sure you are working with a seasoned HUD home lender through our online application and we’ll get in touch with you from there.

~Ray

Leave a Reply

Your email address will not be published. Required fields are marked *