Health & Fitness
Tales of a HUD Home purchase, bring your patience with you...
The availability of HUD Homes South of the River is increasing steadily. A HUD Home is a specific type of foreclosure. The loan on the home was an FHA, a type of loan…
The availability of HUD Homes South of the River is increasing steadily. A HUD Home is a specific type of foreclosure. The loan on the home was an FHA , a type of loan ensured by the Federal Government. When these homes fall into foreclosure, they end up in the hands of HUD, Housing and Urban Development.
About a year ago, I looked up all HUD Homes on the market and there were only about 30 on the market all across the Twin Cities, and about 6 of those were South of the River. Currently, on the MLS, there are 324 HUD Homes. There are a total of 35 HUD Homes on the market in Savage, Prior Lake, Burnsville, Apple Valley, Eagan, Rosemount and Farmington.
Find out what's happening in Burnsvillewith free, real-time updates from Patch.
Did you know, if you are qualified for an FHA loan and decide to purchase a HUD Home, you will only need $100 total for your down payment and closing costs! That’s a great opportunity, just $100 out of pocket to get into a home.
Congratulations to my clients who successfully purchased a HUD Townhome in Farmington last month…it was a long and drawn out process with lots of hurdles, but all worthwhile in the end. They succeeded in getting a 3 Bedroom, 3 Bath, 2 Car Garage Townhome with Fireplace and all Appliances for under $67K. I hope they enjoy it for many years.