Hud Homes Revealed

Amazing $100 Down HUD Homes!

“We can help turn your dream of home ownership into reality”

About Us

Our company has been helping renters in the south Florida area become proud and happy homeowners for the past 21 years. We have a mission that everyone in our company lives by and believes in. We work harder than anyone to make sure that your home-buying experience is a pleasure one. The way we accomplish this is providing you with the best and most useful advice and instructions available for a smooth and effortless transition from wanting the “American Dream” to actually obtaining it. We’ve been specializing in HUD homes since 1998 and have extensive knowledge regarding their programs and how they can help you.

Services

HUD Financing

If you’ve been thinking about buying a home and have not been pre-qualified by a bank or mortgage broker and would like to know how close you are to qualifying. Contact us today and we’ll put you in contact with our mortgage broker, who specializes in HUD homes. They would be more than happy to help you, with the entire qualifying process.

Since HUD is only requiring $100 down on FHA qualified homes and in many cases, will agree to pay the buyer’s closing close up to 3% buying could not be easier. You simply cannot afford to miss this opportunity. The HUD $100 program has been in existence for many years, but nothing last forever.

Again, we will walk you through the entire process from start to finish. From obtaining the right financing, to taking advantage of the right HUD programs and of course through the process of finding that perfect home for you and your family.

“The process is a simple one. Let us show you how simple and easy it can be”.

Home Search

HUD

HUD Home Store is the listing site for HUD real estate owned (REO) single-family properties. This site provides the public, brokers, potential owner-occupants, state and local governments and nonprofit organizations a centralized location to search the inventory of HUD (Housinng and Urban Development) properties for sale.

In addition, registered real estate brokers and other organizations can place bids on behalf of their clients to purchase a HUD property. HUD Home Store also includes many informative user-friendly features providing advice and guidance for consumers on the home buying process.

HOMEPATH

Making the decision to buy may seem more like a giant leap than a first step, but it doesn’t have to. The key is to do your homework and be prepared—whether you’re buying a home next year or next month. Determine what you can afford, consider the location and what you need in the home.

If necessary, work with a lender or mortgage financing professional to determine your options including how much you will need for a down payment. A pre-qualification letter always expedites the contract process when you’re ready to make an offer.

HOMESTEPS

We help thousands of buyers just like you find a home you can call your own. At HomeSteps®, we help you find much more than a house, town home, condominium or duplex. We want you to feel confident about your decision to buy from us, and have the peace of mind you expect and deserve from your new home.

We currently have homes for sale in many areas throughout the country. Search our available homes or visit Freddie Mac’s website to learn more about buying a home or how much home you qualify for.

Search on MLS

Frequently Asked Questions

What is the HUD $100 down program?

The $100 HUD program is simple. It’s available to buyers who will occupy the house & qualify for an FHA loan. FHA loans are easier to get than most others – they are not purely credit-score driven! The down payment for an FHA loan is normally 3.5%
Which properties are eligible for the $100 down payment incentive?

Any property listed on the HUD website and available for FHA financing (203B, 203B with repair escrow and 203K) are eligible. Buyer must be an owner occupant to qualify. To qualify for the $100 down program the purchase price cannot exceed $356,500.
Does the $100 Down Program mean I can buy a house for only $100?

No. The $100 represent the down-payment only. You will need between $500 and $2,000 for the earnest money deposit depending on the purchase price. The earnest money deposit (CERTIFIED CHECK or MONEY ORDER) is required within 72 hours of offer acceptance and signing official contract. It is also included as part of your closing costs. Your other out-of-pocket costs prior to closing may be appraisal and inspection costs. A mortgage application fee may be required. These costs could be included in the 3% closing costs contributed by HUD if requested and approved. Request a Good Faith Estimate from your bank or broker to determine your total closing costs.
How do I place a bid?

Contact a certified approved HUD agent to submit your online offer/bid. If offer is accepted you’ll need a pre-qualification or approval letter from your lender (WITHIN 48 HRS). Letter is forwarded to HUD and contract is prepared by HUD and forwarded to all relevant parties for signature. Please note: An Approval is different from a Qualification! Qualifications are very general, approvals are much more comprehensive and preferred.

Inform your lender that you are purchasing a HUD home using the $100 down program. If your lender isn’t familiar with the program we’d be happy to work with them throughout the process.
Will HUD negotiate terms & price like a regular seller?

No. HUD does not engage in the typical offer, counter-offer negotiations like in most transactions. You will not be informed of other offers made. Therefore, you should make your best offer from the outset! HUD accepts the bid that nets them the most money. On rare occasions HUD will make a counter-offer if there are no other bids and your offer is close to their asking price.
Are Good Neighbor Next Door properties available for the $100 down payment incentive?

Yes, if you are purchasing with an FHA loan.
My offer was accepted but I offered more than appraised value. Is the home still eligible for the $100 down program?

Yes. However, you will now be responsible for the difference between the accepted offer and the appraised value in cash at closing.
If I submit a contract with a Conventional loan, can I later switch to FHA and still use the $100 Program?

If the property meets eligibility criteria and HUD approves an amendment to the contract, you may still be able to take advantage of the $100 down program.
How long will this incentive program last?

There is no time frame defined for this program. That means that it could end tomorrow … or go on for years. But why take the chance? With prices and interest rates at their lowest in years, now is the time to buy!
What is a repair escrow?

A repair escrow is an account set aside at your closing which is used to pay for health and safety repairs to your property. HUD determines how much (if any) repair escrow they will allow on each property. If you want to take advantage of the repair escrow, you will need to add that amount to your loan total, and you must make the repairs prior to having the funds released to you. In other words, you will be reimbursed for your out-of-pocket costs.
Are there any other incentives I can use?

Yes, you may ask HUD to pay up to 3% of your closing costs. This “MUST” be requested when you submit your initial online offer. If you do not ask for closing costs up front, you WILL NOT be able to ask for it later.

Please note: HUD will accept the offer that gives them the highest Net Profit. Therefore, if you ask for closing costs and another offer is for the same amount but NOT requesting closing costs, HUD will more than likely accept the offer without the closing costs if the net gain is more. However, if you understand the trade-off, it is available.