Answers to Frequently Asked Real Estate Questions Continued
What is a HUD home?
The Federal Housing Administration guarantees many first time home buyers loans. In St. Louis loans up to $161,500 may be guaranteed. If the buyers of these homes default, the FHA may buy the home from the bank and than resell it through the US Department of Housing and Urban Development (HUD.) Thus it is a HUD home. In St. Louis all HUD homes are available through any HUD-approved Realtor. Special rules apply. Preference is given to owner-occupants. If you're interested in a HUD home, give me - Jackie Martin - a call at 314-772-HOME or on my cell at 314-495-4428. If you'd like, you can search HUD Homes on my site. Just register once and login anytime to search HUD homes.
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What is the FHA?
The FHA is the Federal Housing Administration, an agency of the U.S. Department of Housing and Urban Development (HUD). Its main activity is the insuring of residential mortgage loans made by private lenders. The FHA sets standards for construction and underwriting but does not lend money or plan or construct housing. FHA loans have inspection requirements that often scare sellers but their requirements are rarely stricter than a St. Louis area municipal inspection.
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Do you questions about buying a HUD home? Call me - Jackie Martin. I can help you find and bid on a HUD home.
Jackie Martin, Realtor
email: Jackie[at]WeSellStLouis.com
We Sell St. Louis
3424 Missouri Ave.
St. Louis, MO 63118
office: 314-772-HOME (4663)
toll-free: 1-866-971-HOME (4663)
cell: 314-495-4428