How To Buy A HUD Repo Home With FHA Mortgage Loan Financing

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Education & Training

Everyone wants a great deal on buying their next peice of Real Estate and buying a HUD Repo Home and a very special FHA HUD REPO Home Loan, could be your path to finding just that... a GREAT deal in Arizona Real Estate.

What Exactly Is A HUD Repo Home and how can an FHA Mortgage Loan help me buy one?

A HUD Repo Home is a home that HUD held the mortgage on, foreclosed and now owns.  HUD is not in the business of holding onto homes, they want to sell them.  So they offer the HUD Repo homes at a discount and often offer incentives to fuel the purchase.

When HUD Repo homes are sold, the priority to purchase the home goes to someone who intends to occupy the HUD Repo as their primary residence, who will often use the FHA HUD Repo $100 down loan program.  If the HUD Repo doesn't sell, then it becomes available to any potential buyer, including real estate investors.

So what loan programs can help me buy a HUD Repo Home?

FHA has a special Mortgage Loan designed exlusively for purchasing HUD Repo Homes.  It's called the FHA $100 Hud Repo Loan and it is available now.  Using this loan you can finance up to 110% of the purchase price allowing you to roll in closing costs and prepaids.

FHA also has the 203K Rehab Home Loan which allows you to buy a primary residence with the standard FHA down payment of 3% which is typically based off of the rehabilitated value. 

To buy a HUD Repo with only $100 or to get an FHA Home Loan and Rehab a property to gain instant equity, contact me through my website at Tucson's #1 FHA Mortgage Loan Originator.

I'll also be happy to provide a list of HUD homes available for the FHA $100 HUD Repo Loan.

Paul Dunn
Tucson's #1 FHA Mortgage Loan Originator

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Rainer
173,075
Fred Chamberlin
Guild Mortgage Co - Oak Harbor WA - Oak Harbor, WA
Oak Harbor/Whidbeynulls, #1 Experienced FHA Mortgage Consultant

I don't often admit that someone knows more about government loans than I do, but Paul really know his stuff.

Jul 16, 2008 07:00 AM #1
Rainmaker
61,229
Paul Dunn
Tucson, AZ
former orginator

Thank you Fred, I greatly appreciate your kind remarks.  Check you email, I'm going to send you some info on the program that might be useful to you.

Paul Dunn
Tucson's #1 FHA Mortgage Originator
USDA Rural Home Loans for Arizona

Jul 17, 2008 03:02 AM #2
Anonymous
rodney fuller

i am tryimg to buy my first home in MS, there are afew hud and va homes for sell, but they need minor work. my realitor states that i cant buy these houses because they would not pass inpection, there must be a way around this, can you help. my email is rodfull66@cableone.net

Oct 14, 2008 03:42 PM #3
Rainer
89,577
David Salvato
David Home Inspection Service Home Inspector San Bernardino - Los Angeles, CA

What a great post! The vast majority of HUD and REO homes are in great distress that will require many $1000.00’s of dollars and hours of hard work to bring them back to a livable condition. Once the client sees the home inspection report with so many defects they are scared off. Not everyone can stomic the amout of repairs needed. Specialy the frist time home buyer.

Sep 13, 2009 02:06 AM #4
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Rainmaker
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Paul Dunn

former orginator
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