HUD Homes Masterclass - Buy a House for $100 Down
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- čas přidán 19. 03. 2023
- ➡️ Get a list of HUD Homes in your area: www.treadstonemortgage.com/co...
HUD Homes are foreclosed homes offered by the Department of Housing and Urban Development, and managed by the FHA (Federal Housing Administration). While HUD is responsible for a wide range of housing-related programs, including public housing, community development, and fair housing, among others, the FHA is focused specifically on making homeownership more accessible to a broader range of borrowers.
HUD homes are homes that were once financed with an FHA Loan, but have since foreclosed. HUD auctions those homes off, and as an incentive to purchase these homes (sometimes they need a little elbow grease to move in), HUD offers a $100 down payment. You read that right-- $100 down.
To learn more about low down payment homes in Michigan, check this out: www.treadstonemortgage.com/bl...
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Connect with a Mortgage Pro ➡️ www.treadstonemortgage.com/co...
🏡 Treadstone Mortgage
📍 210 Fulton St. E, Grand Rapids, MI 49503
🏡 Treadstone is the leading premier mortgage company in West Michigan (and pretty proud of it). We won't be the first to say: you're in good hands here. We might be a Michigan-based mortgage lender, but we're licensed in several many states for long-haul moves.
We believe home loans shouldn't end at the closing table. That's why we offer a vast array of tools, resources, and friendly advice to make your homeownership vibrant and easy. You name it, we can (probably) do it: Conventional, FHA, 0% down VA or USDA/RD loans, bridge loans, manufactured homes, and more.
Helpful tools by Treadstone:
✨ Mortgage Calculator: www.treadstonemortgage.com/le...
✨ Figure out where to live: www.treadstonemortgage.com/ex...
✨ The state of the housing market: www.treadstonemortgage.com/in...
✨ How to Buy a Home with Zero Down: www.treadstonemortgage.com/bl...
🏛️ Treadstone Funding propelled by Neighborhood Loans NMLS 222982 “Illinois Residential Mortgage Licensee No. MB.6759826. neighborhoodloans.com/licensing/ For licensing information, go to www.nmlsconsumeraccess.org”
*All information is for educational and illustrative purposes only. Not a commitment to lend, and not financial advice. Not affiliated with or endorsed by any government institution. Please contact us for eligibility and quotes.
I will try HUD
I was told by my hud worker that you have to have a minimum credit score of 580 AND id have to put up a minimum of $50/month into a fund thats specifically for "future" repairs. Id have to show proof when asked that ive been doing so. If I need to have a major repair done im supposed to use that fund 1st AND if its not enough I can apply or ask for my hud agencies help BUT they will only help IF they can because certain repairs have to qualify!?
Im better off staying as a renter,. At least when something needs fixing its not coming out of a fund I can't even fathom having since its already impossible to save any money living paycheck to paycheck..hence the reason I'm a hud recipient. My rent is based on my income. Not my income plus an additional $50 to set aside
Hi Kari! Thanks for watching. We would assume that they are talking to you about a different HUD program - there are many! This program we are talking about in the video above is a low down payment program for homes listed for sale at hudhomestore.com The program allows us to finance in all the repairs needed and doesn’t require anything like what you are outlining. If you are interested in exploring further feel free to reach out to us via our website and we can talk further.
Excellent video
Thank you.
I was trying to to get a USDA loan ( first time buyer) and no bank and I’m serious, no bank does USDA loans on this island ( yes we’re part of 🇺🇸)
At 3:55 he said he didn't know this information and he's worked in the RE industry for 10 years. That's why you have to be selective with your agents. 9 out of 10 I've interacted with were ignorant, lazy, shiftless, schemers and scammers. They make a difficult process even harder.
HUD houses are cash only. I bought one and still live in it.
We finance them all the time! Let us know if you want to buy another.
They *can* be difficult to finance *depending on your type of financing*, but definitely not all are cash only. And, many ways to skin that cash-only cat even when one is. Listed plenty of HUD homes, seen plenty of what I mention.
What if I want to get the renovation home ourchase loan for the HUD home? @@TreadstoneFunding
That's good...
I need to find one in my area...
How do u do it I go thru hud. But don't kno any info about it
What is that website again for the hud homes?
If anyone can find me a hud home in NYC or surroundings for $100. I will do 100 laps around Central Park
What is page link
What is the link
were are the hud home for sale .In California nothing?
Foreclosed
How this works with hud
Treadstone Mortgage also does up state new York homes? couldn't see what states on the Treadstone Mortgage site..
Hi! Unfortunately we are not licensed in New York, but you can see all of our state licenses here: neighborhoodloans.com/licensing/
At whst age can you get a mortgage on a HUD home
18 is the minimum age for any home loan!
What are the closing costs though?
It will vary significantly based on the property, but you can ask HUD to pay up to 3% of closing costs which would make a significant dent in the costs. Feel free to reach out to us on any specific property and we can run numbers for you and look at getting you pre-approved!
What about foreclosed condos. What are the rules e.g association fees.
We can do HUD condos, no problem at all! They're actually relatively easy. As for the association fees, those are a separate fee from your mortgage payment and escrow, but are still included in the debt-to-income ratio calculations. That's about it!
What’s the page link ?
You can find HUD homes for sale at www.hudhomestore.gov/ or learn more about buying HUD homes here: www.1stclassmortgageservice.com/2023/06/10/how-to-buy-a-hud-home-with-100-down/
@@TreadstoneFunding thank you!
Why does it cost to just look at his homes they want $1
The hud home has raised an they only selling them to people with big money . Not to the average joe
So, how do you know that the 10 starts?