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HUD guidelines in many cases allow a home buyer to purchase a home with no down payment. In addition you can finance (with sellers
permission) up 6% of the closing costs. This program opens
the door of home ownership to individuals with little savings,
but who otherwise have the income and credit to qualify.
Types of homes available for financing include:
- Single Family
- Condo
- Two Family
- Three Family
- Four Family
All properties MUST be owner occupied.
HUD underwriting guidelines allow for individuals with less
than perfect credit and income to receive a loan. Each loan
is considered on a case by case basis.
A fixed lower rate mortgage is what you get, thanks to HUD.
just because your buying a home with little or no down payment and have less
than perfect income and credit does not mean that you should
be paying more than a fair rate and payment.
Now that you have decided to purchase a home, you need to
enroll in the HUD insured mortgage program.
To get started contact us at 1-866-562-6318. Be prepared
to have the following information available:
- Borrower (s) name, address
- Social Security number (s)
- Phone numbers
- Date of birth (s)
- Yearly Income (s)
- A deposit of $195.00 is required and is refundable upon
closing. (Visa, MasterCard, and Discover)
- $375 for the appraisal (may be higher for 2,3, and 4 family
homes)
Available terms for VA Financing:
- 30 year fixed rate
- 15 year fixed rate
- 3/1 ARM fixed for first three years
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