most of these sold now are owner-occupied and you can just up your offer to include them paying some closing costs. You would probably qualify for a FHA mortgage with 3 % down.
Most HUD's in my area go non-owner occupied. Read the fine print of Addendum A regarding closing costs.
HUD only pays for "certain" closing cost items. They do not pay for "normal" closing costs items. They pay even less if you are a non-owner occupied. They also have caps on some items. For example, in Ohio they will only pay $250 for a home warranty. I only found warranties for $350-400. They also dont pay for pre-paid items (taxes, insurance, etc)
Quote:
On 2004-08-17 11:01, dawizzy wrote:
most of these sold now are owner-occupied and you can just up your offer to include them paying some closing costs. You would probably qualify for a FHA mortgage with 3 % down.
most of these sold now are owner-occupied and you can just up your offer to include them paying some closing costs. You would probably qualify for a FHA mortgage with 3 % down.
hope that helped!
D
Most HUD's in my area go non-owner occupied. Read the fine print of Addendum A regarding closing costs.
HUD only pays for "certain" closing cost items. They do not pay for "normal" closing costs items. They pay even less if you are a non-owner occupied. They also have caps on some items. For example, in Ohio they will only pay $250 for a home warranty. I only found warranties for $350-400. They also dont pay for pre-paid items (taxes, insurance, etc)
Quote:
On 2004-08-17 11:01, dawizzy wrote:
most of these sold now are owner-occupied and you can just up your offer to include them paying some closing costs. You would probably qualify for a FHA mortgage with 3 % down.
That would be fraud wouldn't it?