Tips For Buying A HUD Home
Nu Home Source Realty has all the information you need to know to help you find your new home in the DFW Area. HUD incorporated numerous housing agencies and assumed administrative responsibility for them. But there is one great option still available in some parts of the country and that is buying HUD homes for sale by using the HUD $100 Down Payment Program. It started after the borrower defaulted on the FHA-insured loan used to originally purchase the property, and ended when the originating lender was paid off by HUD (as has been guaranteed via the FHA insurance). Owner-occupants are not eligible if they have purchased a HUD property in the past two years.
Prior to actually looking at homes or placing a bid, it is very important to be prequalified for a FHA or other mortgage by a local lender. Before FHA properties are publicly listed for sale, …