The $100 HUD FHA Home loan will be expired on July 31st 2010 in Arizona and in Nevada. After this date borrowers purchasing HUD homes will be required to put down the full 3.5% for an FHA loan.
The $100 HUD home program is a great way for a first time home buyer to purchase a HUD home with $100 down instead of the 3.5%. All borrowers in need of this loan will have up to the 31st to get under contract before becoming ineligible. Those under contract prior to the 31st will be able to close after the 31st.
Please see the link for HUD's Notification on the Change
As a mortgage specialist I look forward to helping you with all your financing needs. I work with a variety of home buyers in Arizona including the $100 HUD program and FHA loans.
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