Buy a Home with $100 Down! -Patrick Bowers, Mortgage Broker

Morse Lake Real Estate and Waterfront Homes

Over the past few years or so many of the programs allowing buyers to put low to no money down have vanished.  The standard FHA loan requires a minimum of 3.5% down ($5250 on a $150,000 purchase) not including lender fees, title fees, insurance, taxes, etc.  Often times this minimum down payment plus additional costs puts a financial strain on many potential buyers. There is an option though…

There is a little talked about product though the FHA where you are required only to put down $100 when purchasing a HUD home.  HUD will also cover up to 3% of the buyer’s closing costs, if requested in the purchase agreement. There are many great opportunities to purchase real estate and take advantage of the $100 down payment all over the state.  For instance on a quick search of HUD homes for sale in Noblesville, I found 16 active listings!

Patrick Bowers

Private Mortgage Banker
“Where your American Dream starts”
3077 E. 98th Street, Suite 150
Indianapolis, IN 46280
Cell (317) 258-8334

pbowers@ameramortgage.com

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