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Understanding the $100 down payment program
3/18/2009
$100 Down Offer applies if the purchase price 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 price less $100.