What is FHA's minimum downpayment requirement?

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What is FHA's minimum downpayment requirement?

Answer
Generally, the borrower must make a cash investment of at least 3.5 percent of the contract sales price as required by the Housing and Economic Recovery Act of 2008. Detailed instructions for determining the minimum investment for an FHA insured mortgage are available in Handbook 4155.1.

The downpayment for purchase of a HUD homes may be as low as $100 ( may be available for certain properties located within the HUD Atlanta Homeownership Center jurisdiction (Alabama, Florida, Georgia, Kentucky, Illinois, Indiana, Mississippi, North Carolina, South Carolina, and Tennessee)
For more information about buying a HUD home please visit http://www.HUD.GOV/HUDHomes

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