Here are the essential guidelines to navigate this unique market successfully. 1. Know Your Status: Owner-Occupant vs. Investor
If the home needs work, consider an FHA 203(k) loan from HUD, which allows you to bundle the purchase price and renovation costs into one mortgage. 5. Check for Special Discount Programs HUD offers unique incentives that can save you even more: guidelines for buying a hud home
If you buy as an owner-occupant, you must live in the home for at least 12 months and cannot have purchased another HUD property in the last 24 months. 2. Find a HUD-Registered Agent Here are the essential guidelines to navigate this