Buying A House - Through Hud

: Within 45 days, Maya signed the final papers. As an owner-occupant, she committed to living in the home for at least one year. Key Takeaways for HUD Buyers

: Maya first secured a mortgage pre-approval . Because she was looking at a "fixer-upper," she explored the FHA 203(k) loan , which allows buyers to bundle the purchase price and renovation costs into a single mortgage. buying a house through hud

: Unlike a traditional sale, there was no haggling. Maya’s agent submitted a sealed electronic bid . A computer selected her offer because it provided the highest net profit to HUD. : Within 45 days, Maya signed the final papers

: HUD homes are sold "as-is," so Maya immediately ordered a professional home inspection . The inspection revealed a leaky roof, but because she had the 203(k) financing ready, she moved forward knowing she could fund the repairs. Because she was looking at a "fixer-upper," she