HUD 184 Frequently Asked Questions


  1. What is the required down payment amount?
  1. 2.25% > $50,000
  2. 1.25% < $50,000
  1. How do rates compare to other loan products?
    1. Typically, similar to FHA but lower than Conventional products
  2. What if I make too much money?
    1. There are no income restrictions.  You will not be denied because you make too much money. 
  3. Is there a loan limit?
    1. Yes, it is county and state specific.  (Typically $271,050 in Oklahoma)
  4. Can I get this loan anywhere?
    1. No, it is county and state specific.  The entire state of Oklahoma is approved as are many other states. 
  5. Can I use this loan to build?
    1. Yes
  6. Can I use this to rehab a home?
    1. Yes
  7. Can I use this product for rentals?
    1. No, it is for primary residences only.
  8. What kind of homes can I buy?
    1. Manufactured, Modular, Stick Built, and even Steel Built home (with comps.)
  9. Can I refinance my existing loan with this product?
    1. Yes, currently HUD allows you to refinance with the 184 program.
  10. What is the cash-out limit on a refinance?
    1. $25,000 cash out to the borrower
  11. Can I refinance to pay off existing debt?
    1. Yes, you can refinance up to 85% of the equity towards existing debts.

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