FHA $100 down HUD Owned Home Purchases

FHA $100 Down Purchase Loan Program – Allows a borrower to purchase a HUD owned foreclosed home with as little as $100 down payment.  Buyers bid on the property and if they win the bid, they not only put as little as $100 down as a down payment on the loan, but also no other appraisal is required since HUD already has an appraisal completed.  The HUD appraisal insures the condition of the property is acceptable to FHA.