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Benefits of Buying a HUD Home - Team1Realty serving Danville, Antioch, Pittsburg, Brentwood CA
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Benefits of Buying a HUD Home - Team1Realty serving Danville, Antioch, Pittsburg, Brentwood CA


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Benefits of Buying HUD Homes

Benefits of Buying HUD Homes

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  • 1. Benefits of Buying a HUD Home Ty Leon-Guerrero Call : 800-533-7107
  • 2. A U.S. Department of Housing and Urban Development (HUD) home isa 1-to-4 unit residential property acquired by HUD as a result of aforeclosure action on an FHA-insured mortgage. Ty Leon-Guerrero Call : 800-533-7107
  • 3. HUD becomes the property owner and offers it for sale to recover theloss on the foreclosure claim. Ty Leon-Guerrero Call : 800-533-7107
  • 4. HUD Home Store is the listing site for HUD real estate owned (REO)single-family properties.This new site provides the public, brokers, state and local governmentsand nonprofit organizations a centralized location to search the inventoryof HUD properties for sale. Ty Leon-Guerrero Call : 800-533-7107
  • 5. Who Can Buy a HUD Home?Almost anyone! If you have the cash or can qualify for a loan (subject tocertain restrictions) you may buy a HUD Home. Ty Leon-Guerrero Call : 800-533-7107
  • 6. HUD Homes are initially offered to owner-occupant purchasers (peoplewho are buying the home as their primary residence).Following the priority period for owner occupants, unsold properties areavailable to all buyers, including investors. Ty Leon-Guerrero Call : 800-533-7107
  • 7. If you are an evacuee displaced by Hurricane Katrina, Rita or Wilma, youmay be eligible to purchase a HUD Home at a discounted price. Ty Leon-Guerrero Call : 800-533-7107
  • 8. Benefits of Buying HUD HomesAccording to HUD, some benefits to buying HUD homes include:• A real estate broker will prepare and submit your offer and deposit for you without charging you.• HUD pays up to 5 percent of the closing costs, saving you thousands.• You can move in faster if you purchase a HUD home eligible for FHA-insured mortgage because it has already been appraised.• HUD homes may be eligible for repair loans built into the mortgage and buyers may qualify for 3 percent down payments. Ty Leon-Guerrero Call : 800-533-7107
  • 9. Neighbor Next Door Special Programs Available• Buying a home through HUDs Good Neighbor Next Door initiative is designed to encourage renewal of revitalization areas by providing an opportunity for law enforcement officers, firefighters, emergency medical technicians and teachers to purchase homes in these communities.• HUD provides a substantial incentive in the form of a 50% discount off the list price of eligible properties. Ty Leon-Guerrero Call : 800-533-7107
  • 10. Nonprofits Special Programs Available• The Federal Housing Administration (FHA) offers community and faith based nonprofit organizations the opportunity to purchase HUD homes at discounts up to 30%.• With this discount, local nonprofit organizations invest in their communities through property rehabilitation and resell to first-time homebuyers and low to moderate income families. Ty Leon-Guerrero Call : 800-533-7107
  • 11. Dollar Homes Special Programs Available• HUDs Dollar Homes initiative helps local governments to foster housing opportunities for low to moderate income families and address specific community needs by offering them the opportunity to purchase qualified HUD-owned homes for $1 each.• Dollar Homes are single-family homes that are acquired by the Federal Housing Administration (FHA) as a result of foreclosure. Ty Leon-Guerrero Call : 800-533-7107
  • 12. Contact Ty Leon-Guerrero Twitter Facebook LinkedIn Alameda, Contra Costa, Sonoma, Solano, Napa Counties Fairfield, CA 94533 Call Us : 800-533-7107