- Residential Real Estate Agent
- Los Angeles, CA
- Votes |
HUD & FHA Loan Programs and Grants!
Hello there everyone-
Not too sure if this qualifies as an announcement but I would like to let people know a little bit more about HUD (Housing and Urban Development) and FHA (Federal Housing Administration). HUD does not only offer people discounted homes to purchase but the ability to finance their purchase or consolidation of existing debt.
FHA does not lend you money but instead much like mortgage insurance they have the lender charge a premium (anually .5% of the loan balance in most cases), and if you do the math (Usually a 0% to 3% simple interest loans) it makes perfect sense for homebuyers and investors. Yes I said investors too, most people think that FHA loans are only meant for low & moderate income families that can't afford conventional lending. But that is just not the case, think of it like this someone tells you hey it is really windy right now (just because you can not see the wind does not mean it is there and you know cause you can feel it) and you know that they are telling you the truth.
Just because you can't see the advertisement on FHA loans and government programs does not mean that it doesn't exist. It just means that you are not looking hard enough or in the right places and for that matter most people ask the wrong questions when looking in the right place.
If you would like to know more just join me in the HUD, VA, and Tax liens sales forum and I may be able to help you. I do realize that it is a bit confusing being that so many people only want to know about the HUD homes for sale. The truth is you do not need to purchase a HUD home in order to qualify for an FHA backed loan (want to know why I just said that then just ask me).
Thank you for your time!
P.S. You would even be surprise at how many grants there are to fix up your home (some grants are monies from the government that does not have to be paid back :shock: yes you heard right), and there are loan programs that are based on timeline (the loan is forgiven after so much time has gone by).
Thanks again hope to hear from many of you soon enough and remember I only want to spead what needs to be known!