Miami Network Realty

Purchasing a HUD home is not a complex process. You just need the right realtor to guide you.

There have never been more opportunities to purchase a really great family home than now. HUD homes are a great bargain option to qualified buyers at very affordable prices. HUD provides realtors who are registered with them a weekly list of "available" homes which they can preview with their clients before the cut-off bid date to decide if they are interested in the homes.
Once a property is chosen to bid on, any one of our realtors can prepare your offer and guide you through the process. If your bid is accepted, you will follow a very similar process to a conventional purchase. Financing is available through banks and mortgage companies and closings can take around 30-45 days.

When to ask for an FHA loan?

Choosing the right loan for your home purchase is one of the most important decisions to make. After all, what you commit to will affect your finances for many years to come. The options in general are a conventional loan, an expensive sub-prime loan, a government subsidized special loan, or FHA.
The advantages to an FHA loan are many.
They are easier to qualify for: Since FHA insures your mortgage, lenders are more willing to lower their qualifying standards as their risks are less. Thus it is easier for you to qualify.
Downpayment requirements are lower than most loans, typically 3.5% to 5%.
Credit requirements are more flexible and lower than with a conventional loan.
Interest rates are very competitive.
So, if you are on the market for a new home, consult your lender about an FHA loan. It might just be the right loan decision for you.