If you are paying cash you can do whatever you want, but you need to have ACCEPTABLE credit to finance any home.
I grew up in Taylor and I would be glad to assist you in getting approved for a mortgage. You don't need perfect credit, or even great credit. We can take a look at your credit report and see if you qualify now or if it will take a little work. If so, I can lay out the steps for you and we can get you there with a little effort on your part.
I also have connections to some great realtors there who can help you find a home.
Give me a call or email me.
Tony Grech | Mortgage Loan Originator | NMLS 977416
PMAC Lending Services, Inc.
Toll-free (855) 642-4762 | Fax (248) 945-4842 | Direct (248) 728-0078
Buying a HUD home or any home that requires a loan will have very similar standards and score minimums in order to approve you as a purchaser.
I recommend you get a copy of your credit report and work on any possible items that may hinder your score and then you should be, with time, in great shape to purchase.
Unless you are an extremely savvy buyer with a lot of experience in repairing homes, I'd strongly advise you against buy a HUD or any type of foreclosure property. They are rarely if ever deals, and you are exposing yourself to additional risk. Please read the link I've attached below.
You need the same credit you would for any other home. If you're not going to pay all cash, you need to be able to qualify for a loan to purchase the home. The only difference between a HUD home and any other home is that the HUD home is owned by HUD and not a private individual.