HUD Home Facts

HUD Home Facts

What is a HUD Home?

- A HUD home is a 1-to-4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.

What is HUD?

-The U.S. Department of Housing and Urban Development.

Who can buy HUD Homes?

- Anyone who has the required cash or can qualify for a loan (subject to certain restrictions) may buy a HUD Home.  HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors. Its important to know you need a realtor to bid on the home for you.

Are HUD Home's fixed up or sold As-Is?

- Generally HUD does not warrant the condition of its properties and will not pay for the correction of defects or repairs. The Homes are sold in As-Is condition. Since the new owner will be responsible for making needed repairs, HUD strongly urges every potential homebuyer to get an inspection from a licensed professional home inspectorprop prior to submitting an offer to purchase.

What if I'm interested in buying a HUD home that needs repairs?

-If you are interested in acquiring a HUD Home that is in need of repair, you may be interested in applying for anFHA (203K)ff FHA 203(K) rehabilitation loan, When a homebuyer wants to purchase a house in need of repair or modernization, the homebuyer usually has to obtain financing first to purchase the dwelling; additional financing to do the rehabilitation construction; and a permanent mortgage when the work is completed to pay off the interim loans with a permanent mortgage. Often the interim financing (the acquisition and construction loans) involves relatively high interest rates and short amortization periods. FHA's 203 (K) rehabilitation loan is designed to address this situation. The borrower can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property.

Financing a HUD home:

-HUD does not provide direct financing to buyers of HUD Homes. Buyers must obtain financing through either their own cash reserves or a mortgage lender. If you have the necessary available cash or can qualify for a loan (subject to certain restrictions) you may buy a HUD Home. While HUD does not provide direct financing for the purchase of a HUD Home, it may be possible for you to qualify for an FHA insured-mortgage to finance the purchase.

If you are interested in HUD home properties please don't hesitate to call me! I have experience in HUD home sales and would love to help you purchase your next home! Call me today!

267-243-8939

New listing

Check it out...

717 Mulberry St, Trenton, NJ 08638 - MLS# 6990954 | CENTURY 21

Townhouse - Welcome to this well maintained twin offering high ceilings and bright sunlight through out. As you enter the home the first thing you notice is the original hardwood floors in great condition. The rustic wood burning fireplace situated in the living area complements to historic charm of the home. The modernize kitchen has just recently had a complete makeover including granite countertops, beautiful new backsplash, updated cabinetry and stainless steel appliances. The laundry room is neighboring a full bathroom which completes the first floor. Upstairs you'll find more original hardwood floor throughout the hall and some of the bedrooms. And updated second floor full bathroom as well as tall ceilings, long hallways and three bedrooms complete the second floor. The third floor attic offers additional living space or a fourth bedroom. The large basement is finished throughout and offers a 300 amp service panel to support the professionally installed Internet and phone system that was previously used for a large business. This basement is equip for the next business savy buyer needing extra power, internet speed and phone lines. Newer heat, central air and hot water heater are great additions to this home that have been replaced within the last few years. Finally the side porch leads to the rear patio with a brick entertaining area and a grass gardening level. This home is in move in condition and just awaiting your furnishings. Located just a few blocks from Ewing and a few streets away from Halo Farms and the Trenton Farmers market, this property is conveniently located near shopping, public transportation and major highways. Diamond in the market, don't miss out.

Contact me today for a showing! 267.­243.8939

Eagles Mere - Market Activity

Here is a great update on Eagles Mere in Middletown Township!

In this neighborhood holds 5 Active properties for sale. Don't miss out, Check them out now before they are gone! 

470 Mulberry Ct

115 Banks Rd

125 Banks Rd

650 White Ash Dr

685 White Ash Dr

There is 1 property Pending at the moment and expecting to settle by the end of this month.

445 Mulberry Ct

There is one settled property in the last 6 months!

380 Cottonwood Dr

This neighborhood is a pleasant and quiet community! Don't miss the chance to check out any of the homes that are available!

Search more homes by going to my website!
RealEstateWithMelanie.com

Newtown Grant Homes

Newtown Grant is a suburban neighborhood located in Newtown, Pennsylvania.

Newtown Grant is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) townhomes and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the Newtown Grant neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Newtown Grant residents attend 

Council Rock School District. 

Also Newtown's Municipal Building is located at 

23 N State St, Newtown, PA 18940.

Newtown Grant's median real estate price is $385,436.

67.4% of homes in Newtown Grant are 3-4 bedroom, 27.8% are 0-2 bedrooms, and the remaining homes are 5+ bedrooms. There are more townhouses than single family homes in this section. A little more than 50% are townhouses and about 30% are single family homes. Majority of the homes price range from $210,000 to about $784,000.

Here are some townhouses and condos that are available in Newtown Grant.

14 Spruce Ct, 

Newtown, Pa, 18940

11 Cottonwood St,

Newtown, Pa 18940

33 Sequoia Dr,

Newtown, Pa 18940

Click here to search for homes for sale.

Melanie Elliott

Century 21 Veterans

104 Pheasant Run Suite 106

Newtown, Pa 18940

267-243-8939  Cell

267-352-8000 Office

www.RealEstateWithMelanie.com