The Santa Ana HUD Homeownership Center is announcing the following sales incentives that apply to the January 4, 2008 and after GENERAL LISTINGS ONLY for the states of Oklahoma, Kansas and Missouri:

1. $100 Down payment financing is available on most properties through FHA approved lenders. (owner occupants only)
2. $500 Selling Broker Bonus on owner occupant offers that are full price offers
3. $1,000 sales allowance paid to the buyer at closing for owner occupant purchasers that are full price offers and where the property is listed at $50,000 or less
4. $1,500 sales allowance paid to the buyer at closing for owner occupant purchasers that are full price offers and where the property is listed at $50,001 or more

Sales incentives are offered for a limited time and are effective January 4, 2008 and apply to General Listings only. Incentives may be discontinued by HUD at any time. To be eligible for the aforementioned incentives, purchasers must have signed the Owner-Occupant Certification and offered full listing price for the property (except for the $100 down payment incentive).

THESE INCENTIVES ARE NOT AVAILABLE UNLESS THEY ARE ON THE EXECUTED CONTRACT PRESENTED TO THE CLOSING AGENT BY THE M&M CONTRACTOR, and they are not available on contracts executed prior to the effective dates above.

Update:
8/26/08 - HUD has provided further information on the $100 down payment incentive for FHA financing as follows: The $100 Down Payment offer applies if the purchase price is less than or equal to the appraised value of the property. If the purchaser 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.