A CRJ200's CAS alerted HYD 3 LO PRESS on short final so the crew executed a go around; declared an emergency; completed the QRH and returned to land.

Narrative

On short final after the gear was put down; we heard a loud squeal and then received HYD 3 LO PRESS caution message. We scanned the hydraulic system schematic page and noted that we wouldn't have landing gear; nose steering and inboard brakes since there was NO pressure and quantity in number 3 hydraulics. We opted to go around and deal with the problem before landing. On the go around; out of habit; we selected gear up after a normal go around with positive rate or climb. That put us in a GEAR DISAGREE master warning condition. Luckily; the gear was down since we knew it from the approach. We declared an emergency; complied with the GEAR DISAGREE checklist and then the HYD 3 LO PRESS checklist. We communicated with the Flight Attendant; Dispatch and the passengers at this time and informed them of the emergency and what we were doing to get them to the airport safely. Then; we continued to 27R for an uneventful safe landing and taxied to the gate where Maintenance met us. The walk-around showed hydraulic fluid leaking out all over the bottom of the aircraft in front back and in the center pod. The threat was the bleed out of the hydraulic system causing an abnormal condition on short final. We were compressed for time in making the decision to go around and then reverted back to normal flying on the go around procedure. This caused a minor error causing another warning condition with the gear disagree since the gear couldn't be put up due to a lack of hydraulic fluid pressure. Luckily; the QRH got us to put the gear down with the emergency gear handle in the gear disagree checklist AND the hydraulic 3 lo press checklist. So; we would have done that procedure anyway. So; I guess we could have been on the ground a little sooner had we not put the gear handle up on the go-around. In the short final go around without hydraulic pressure in any system and a gear that is down and locked; consider a gear down go around so as not to get the disagree and have to go through unnecessary checklists to get to where you are in a safe condition again.