how do you go about buying a home and getting it hud qualified?

Asked by Ina Johnson, Yorkville, IL Thu Oct 16, 2008

plus what are the qualifications to rent a hud home

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5
Robb Spearman, Agent, West Des Moines, IA
Thu Nov 27, 2008
I have written a book called "How to Buy a HUD Home". You can get a copy of the book by going to my website http://www.Find-A-HUD-Home-Today.com. There is no cost for the book.
0 votes
Greg Zaccagni, , Illinois
Fri Oct 17, 2008
Ditto to Scott. FHA falls under the FHA Umbrella. Presumably your question therefore is what does FHA require to qualify for their insured lender programs?

The Borrower must qualify based on documented income, 3.5% min down & reasonable payment history.
More here:
http://activerain.com/blogsview/114283/FHA-Loans-back-in
http://activerain.com/blogsview/565661/FHA-modifies-9-day

The home must qualify from the inspection as follows.
http://www.pueblo.gsa.gov/cic_text/housing/inspection/home.htm

Condos have additional requirements:
http://activerain.com/blogsview/591941/FHA-Spot-Approval-Req…
0 votes
Dana Schuster, Agent, Slidell, LA
Thu Oct 16, 2008
A HUD home is one with an FHA loan that has been foreclosed and is now government property. They are sold at fair market value through a bid process. you are not allowed to view the home before purchasing. The government does not rent out HUD homes.
0 votes
Rich Knapp, , Naperville, IL
Thu Oct 16, 2008
Call 630-202-9189 or email Rich Knapp @ rknapp9@hotmail.com, or hit my website @ http://www.RichKnapp.com. I be able to help you.

Thanks
Web Reference:  http://www.RichKnapp.com
0 votes
Scott Godzyk, Agent, Manchester, NH
Thu Oct 16, 2008
You should speak to a local and trusted mortgage company in your area to see what you qualify for. They will be able to explain to you the different type of loans available with your credit and your financial situation. it is important to do this first, prior to looking at properties. once you know what type of loan you will need, then you can check to see if that house meets the qualifications. You may be refferring to an FHA loan as hud is the organazation that oversees everything. Good luck with purchasing.
Web Reference:  http://www.ScottSellsNH.com
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