I'm happy to see the Q&A in this area is helpful.

Marilyn, great answers below.

Rob, the 203k does finance above the value of the home BUT the buyer needs to put 3.5% of the acquisition cost+ rehab work. If those figures equal over 100%, FHA allows it up to 110% or 35k in rehab, whichever is less. However, the buyer should still be expecting to bring money down UNLESS it's for a HUD home in which you can do a $100 down HUD 203k.

Hi Marilyn,

Yes, 100% loans are still available and in some instances a 203k loan is available where more than a 100% loan can be granted.

You should contact your Realtor to discuss what is available to you.

Thanks and "Don't keep me a secret--I'm never too busy for your referrals!"
Rob Lang, CRS, ABR, ePro, GRI, CFPS Realtor®
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Can you work with $100 down? FHA has a $100 down program available if you buy a HUD foreclosure. Contact your local lender and ask about it. You may also be able to get down payment assistance from your county or state. Income qualifications apply. Then, there is the USDA loan, which is zero down for rural areas. Income qualifications apply as well.

Yes, either through the VA or USDA. Both have specific qualifications.