Schweiter East : Questions & Answers

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LeAnna Beat, Real Estate Pro in Wichita, KS
LeAnna Beat answered:
What are the qualifications to get a HUD home? What is the usual % down payment.?
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 ... more
0 votes Share Flag Fri Jan 25, 2013 Home Buying in Schweiter East
Byron Tucker, Real Estate Pro in Wichita, KS
Byron Tucker answered:
What does it mean when it's a HUD owned property?
HUD owned typically describes those owned by Fannie Mae and Feddie Mac. In a nutshell these are reposessed homes that are now offered through the servicer or bank who held the mortgage ... more
0 votes Share Flag Sun Mar 20, 2011 Home Buying in Schweiter East
Michael Emery, Real Estate Pro in Minneapolis, MN
Michael Emery answered:
What does it mean when it's a HUD owned property?
It's a home that has been foreclosed on and the loan was guaranteed by the Department of Housing and Urban Development or HUD.

The advantage of buying a HUD home is there are v ... more
0 votes Share Flag Sun Mar 20, 2011 Home Buying in Schweiter East
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