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

Looking for a way to snag a home at a steal of a deal?

With properties often available below market value and down payment options potentially as low as 3.5%, purchasing a HUD home could be your golden ticket.

But what are these homes, why are they so affordable, and how do you know if you qualify for one?

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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.

To learn more about these bargain homes and the deals and risks associated with buying them, we’ve spoken with HUD home experts to bring you the inside scoop.

From bidding to buying to financing to special incentives — we’re talking all things HUD homes to help you decide if this property type fits your financials and lifestyle.



from HomeLight Blog https://www.homelight.com/blog/buyer-what-is-a-hud-home/

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