I wanted to know if you could still get approved for a hud house if you currently own a rental property?
I'm trying to learn about hud homes and how I this all works. I would like to know if a person could be approved for a hud if they currently own a home and are using it as a rental property?
Rebekah,
As Missy stated, owning a home has nothing to do with your ability to purchase a HUD home. Having an FHA loan would prevent you from securing another FHA loan simultaneously, if your current home loan is FHA and you were looking to get another FHA loan.
We represent many clients purchasing HUD homes, and would appreciate the opporutunity to help you! Visit the link below to search bank-owned and HUD homes in your area! We look forward to hearing from you...
Derek Bauer, Associate Broker / Realtor
Real Estate One
734.678.4745 - cell
Derek@DoorToDreams.com
http://www.DoorToDreams.com
Yes Rebekah you can buy a HUD home as an investor. As an investor you are excluded from bidding on a HUD home for the first 10 days it is on the market. I like helping buyers with HUD homes because I am allowed to bid directly on their website. You will also get a response within 24 hours. I wish I could say the same about dealing with other representitives in this market.. Go to http://www.mcbreo.com to learn more and to see all the HUD homes in the area you are interested in. If I can be of further assistance you may contact me through my Trulia profile. Good luck!
Yes owning another property has nothing to do with buying a HUD home. You just have to be able to qualify for both.
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