annenix, Renter in Wichita, KS

What are the qualifications to get a HUD home? What is the usual % down payment.?

Asked by annenix, Wichita, KS Tue Nov 20, 2012

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4
Good Credit. Good Realtor to guide you thru the process. I'd love to help . Janet94286@yahoo.com
11 years of experience as a Realtor. Email me and me lets start the search. Downpayment is usually 3.5 percent , which can be a gift. VA Loan O Down, Email me I'd love to help you Janet94286@yahoo.com Golden Real Estate
0 votes Thank Flag Link Fri Jan 25, 2013
thank you. I've been told I may have va financing but that the house would not pass a va inspection, that the down payment is over $3000, and that I can get preapproved for only $15,000. this all seems unnecessisarily complicated....it's a three-apartment home, in a somewhat depressed neighborhood, and the realtor does not seem to want to work with me at all. thanks for letting me tell my story...
Flag Fri Oct 16, 2015
Both the below answers are correct, in that all traditional forms of financing are available as well as certain financing options, depending on which entity owns the home i.e. Fannie Mae or Freddie Mac. The type of financing really depends on the condition of the home as the appraisal plays a big role in which way we lean. You can simply go to http://www.homeloanswichita.com and click the "apply now" feature on the right if you have the address of the home your interested in, and I can per qualify you within minutes! Hope that helps...
0 votes Thank Flag Link Wed Nov 21, 2012
You can get financing with HUD with only $100 down in some instances...let me know if I can help.
0 votes Thank Flag Link Tue Nov 20, 2012
If you are inquiring about the loan qualification, the loan qualifications as a normal transaction. The down payment is the same 3.5% for FHA and 20% for a conventional. Buying a home through HUD is more complicated process. If you contact me, I will be able to explain more.
0 votes Thank Flag Link Tue Nov 20, 2012
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