Friday, August 28, 2009
HUD Update on $100 down!! This is important!!
The $100 down payment financing is available on most properties through FHA approved lenders. Please note that the $100 down offer applies if the purchase price is over $25,000 and is less than or equal to the appraised value of the property. If the purchase price is greater than the appraised value, the purchaser may obtain a new FHA appraisal to support the higher mortgage amount or must pay cash in the amount of the difference between the appraisal and the purchase price less $100. Buyer is responsible to secure an approved lender who will accept a new appraisal. For more information on updates visit http://www.nhmsi.com/announcements.html