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FHA 203B Loan

This loan and these HUD properties  have equity built into them, due to the price that is typically accepted for HUD foreclosed properties. This loan process is available for owner occupied buyers only, or people who are buying a home to live in. It cannot be an investment or second home property.  All active buyers can search on HUD’s website hudhomestore.com to search these properties in their state/or counties.
According to local lenders they minimum credit score requirement to qualify for this loan is only a 580 credit score and the loan typically requires additional reserves, after down payment.  Lots of lenders participate in the $100 down program for these HUD properties.