Low down payment
Owner-occupant buyers can sometimes purchase a HUD-owned home with as little as $100 down. Luminate Bank is not affiliated with HUD or any government agency. Listings, discounts, and financing are subject to change and to credit and property approval.
HUD markets real-estate-owned properties after foreclosure. Owner-occupants often get a priority bidding window. We help you confirm whether that listing allows a $100 down structure.
You still need a loan for the balance, closing costs, and repairs. Many buyers use FHA. If the home needs work, FHA 203(k) or another renovation program may be a better fit.
Certain HUD-owned (REO) homes can be purchased by owner-occupant buyers with as little as $100 down, subject to the listing, bidding rules, and your ability to finance the rest of the purchase price.
Usually yes. The $100 figure is the cash down payment HUD may accept on qualifying owner-occupant sales. You still need to qualify for a loan that covers the remaining purchase price, closing costs, and any required repairs.
Eligible teachers, law enforcement officers, firefighters, and EMTs may buy a qualifying HUD home in a revitalization area at a substantial discount, often with $100 down, in exchange for living in the home for a required occupancy period. Availability is limited.
Not always. HUD homes are typically sold as-is. We will help you pair the purchase with FHA, 203(k), conventional, or renovation financing when the property and your qualifications allow.
No. Terms depend on the property, whether you are an owner-occupant, bidding status, and current HUD rules. Ryan and Steve will review the listing with you before you bid.
Send Ryan and Steve the address. We’ll check down-payment rules and which loan can actually close it.