Tabitha Char…, Home Buyer in Kresgeville, PA

If you buy a HUD foreclosed home do you have to pay in full or can you get a mortgage loan?

Asked by Tabitha Charron, Kresgeville, PA Wed May 5, 2010

Help the community by answering this question:

+ web reference
Web reference:

Answers

5
Gita Bantwal, Agent, Jamison, PA
Mon May 10, 2010
When you see hud listings it says fha financing 203b or fha203k financing available. Sometimes it says uninsured.You can ask your agent what kind of financing it qualifies for.
Web Reference:  http://www.gitabantwal.com
0 votes
Vince Caputo, , Brodheadsville, PA
Sun May 9, 2010
Hi Tabitha,

You can absolutely get a loan for the property your are asking about. At Century21 Select Group in Brodheadsville PA we have an in-house mortgage specialist who can assist you in all facets of procuring a mortgage and explain the different options available to you. Please feel free to give me a call at any time and I will stand ready to help you with finding a home and assist you in anyway I can to make the purchasing your home a pleasant one.

Best regards,

Vince Caputo
Century 21 Select Group
Route 209 South
PO Box 9
Brodheadsville, PA 18322


570-992-2221 Office Direct
570-992-7228 Cell Phone
570-9926934 Fax
484-8957282 Global Satellite Phone (Leave message- It will alert my email within 15 seconds of your call )
email: vince.caputo@century21.com
Web Reference: http://www.yourhomeinthepoconos.com/
0 votes
Cheryl McDon…, Agent, Stroudsburg, PA
Thu May 6, 2010
You can get a mortgage...when HUD puts a home on the market there is usually a 10 day grace period for buyers to submit their offers and in general they looking more at the offer amount than the terms. During those 10 days they only like to have a buyer who is going to occupy the home not an investor looking for a flip. There are only a few HUD approved Real Estate Offices in Monroe County.

If you would like more information about purchasing a HUD home, please feel free to contact my office, as we are HUD approved.

McKeown Real Estate
Cheryl J. McDonald
570-424-2762
http://www.mckeownrealestate.com
0 votes
Alan Openshaw, Mortgage Broker Or Lender, Southampton, PA
Thu May 6, 2010
Hello Tabitha,

You do not have to pay in cash.
However if the property is not habitable then a lender can require that the property be brought into habitable condition before a mortgage will be made on it.
An FHA 203K loan will allow you to buy and renovate the property.
You need only 3.5% down and you can finance all of the renovation costs too.
See the link below for all of the information on a 203k loan.

Regards,
Alan Openshaw
Cornerstone Lending Inc
215 674 9059
0 votes
Anna M Brocco, Agent, Williston Park, NY
Wed May 5, 2010
You can purchase using cash or mortgage loan. See link for additional information.
http://www.hud.gov/offices/hsg/sfh/reo/reobuyfaq.cfm
0 votes
Search Advice
Search
Ask our community a question
Home Buying in Kresgeville Zip Codes

Email me when…

Learn more