Steps To Purchasing A HUD Home
September 13, 2021
Thinking of purchasing a HUD Home? Here are a few key steps to get you started.
- Get a mortgage pre-approval if you are financing the home. Speak to your local bank or mortgage broker and let them know you would like to purchase a HUD Home, they will let you know what the best type of loan is best for your mortgage needs. If you are paying cash, print a proof of funds statement. Your agent will need the pre-approval or POF in order to place a bid for you.
- Once you know your spending “limit” you can start looking for the HUD home that is right for you. You can search on the HUDHomestore.com or contact a local real estate agent and have them run a search for you.
- You can then have the real estate agent show you the HUD Home. If you like the home, that agent can place a bid on the HUDHomestore.com for you.
Evduza Ramaj - Inside Realty
Tags: ##homebuying ##HUDHome