UtahDave®’s VIP Buyers receive notification of Daybreak, Utah HUD homes, quick updates on price reductions, and receive new listings that meet their search criteria sent to their e-mail. While HUD doesn’t lend directly to the buyer specifically for the purpose of buying a HUD home, there are several options for specific cases in which buyers can qualify for FHA home loans, which many buyers find more convenient than dealing with a private bank or lender.
If you are interested in acquiring a HUD Home that is in need of repair, you may be interested in applying for an FHA 203(k) Rehabilitation Loan When a homebuyer wants to purchase a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage.
Seems unfair (discriminatory actually) that VA qualified VETERANS get omitted from HUD purchases- HUD homes are half of what’s on the market, and most vets know how to fix the deck, or replace he windows and furnace themselves or know a contractor that can, and SHOULD GET THE OPPORTUNITY like other humans that don’t fight for our freedom have.
Regardless of whether the property is being financed with an FHA insured mortgage, HUD does not guarantee or warrant that the property is free of visible or hidden defects, termite damage, lead based paint, or any other condition that may render the property uninhabitable or otherwise un-useable.
Prospective homeowners can find HUD properties by checking with a reputable Real Estate agent, who will then check with All HUD properties in this state are handled by Sage Acquisitions ( ). The Red Oak Real Estate Group is a HUD listing broker that can help buyers pursue a HUD property to turn into their dream home.