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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

JUNE 28, 2021

Due to the nature of how a home becomes a “HUD home,” purchasing one differs from the traditional homebuying process, and there are a few qualifications, special incentives, and risks that any savvy homebuyer should be aware of. Get pre-qualified with a mortgage lender. Find a HUD-approved agent. No problem!

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Pre-approval Pre-qualification FHA loan Inspection 92
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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

DECEMBER 29, 2022

If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. Jumbo loans generally require stricter qualifications, higher credit scores, and higher income and/or cash reserves. Pre-approval. Related Article. Related Article.

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Purchase and sale agreement Title Proof of funds Pre-approval 97
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