Missing!    HUD HOME INFORMATION 


Hud Homes are an exciting way for many first time buyers to purchase a home. Hud homes come in just about every price point from under $50,000 to over $500,000.   They come in every condition from move in ready to needing extreme make overs.   They can be in any neighborhood.   A Hud home is where a person had an FHA insured loan loan and defaulted.   The lender turned the house over to Hud to collect the FHA insurance. 

Hud does basic inspections and resells the houses.  The houses are listed for sale First priority is given to owner occupants.   The list price is based on an FHA appraisal.  You have to have your own financing.   The  links below are to articles that explain some important important information about getting an FHA loan.  FHA loans come in three types 1) traditional 2) 203 (b) repairs up to $10,000 and 203(3) major repairs.   Not all lender do all types.   The 203(b) and 203 (k) loans can include such items as carpet, paint and appliances.   

The steps to successful HUD Home Ownership:
Get a copy of your credit report
Look for late payment or derogatory credit
Report to the credit agencies mistakes
Gather w-2's and tax records for past 3 years.
Select a qualified HUD lender.  I  can help you select one.
Get a pre-approval letter.
 Have  funds for the closing costs.  Your lender will tell you about these.
Now the fun part starts.  Let's start looking for your new HUD Home.
We find your dream home.
 Your FHA Loan Checklist

To get your FHA loan processed smoothly you will need to present this information to your lender.

Social Security Numbers
Addresses for past two years
Names and addresses of employers for past two years.
Gross Monthly salary at your current job(s)
Copy of check stubs and W-2 forms for the past two years
Copies of personal returns for the past two years

Information for all checking and savings accounts
Information on all open loans

Complete information for other real estate you own
Approximate value of all personal property

FHA Loan Payment Calculator
This calculator helps you compute your payment

FHA Debt Ratio Calculator
This calculator helps you determine how much you qualify for 

FHA Credit Guide
This explains credit scores and other helpful information for FHA loans.


 FHA 203K Regular and Streamlined   Information
This page explains what you can renovate with an FHA 203K loan 
 
HUD Home store
This link takes you to the HUD Home store where you can see currently listed HUD homes.