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