04-29-2012 05:55 PM
I am looking to put an offer in tomorrow on a foreclosed home. I am already pre-approved for the FHA loan.
Does anyone know if there are any potential issues with buying a foreclosed home with an FHA loan? I'm a first time home buyer and I need all the advice I can get!
Thanks in advance!
04-29-2012 06:17 PM
04-30-2012 04:10 AM - edited 04-30-2012 04:11 AM
04-30-2012 10:16 AM
Thanks for the advice!
I live in PA and checked out the $100 down payment program, it's been cancelled here.
I was also told by an agent that HUD homes will only go 15% below the asking price. Does anyone know if that's true?
04-30-2012 11:13 AM
I got a FHA loan on a HUD home that was asking price of $73,000 and got it for $61,500 so that is more then 15% off the asking