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Can I get a HUD home with bad credit?

asked by Clint97 (18)

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Tags:  government  money  possibilities

answers

The short answer is no. Except if you are paying cash, but since you are bringing credit into the question I must assume that you are wanting to take out a mortgage. Qualifying for a HUD repo. is no different than qualifying for any other type of home except that you will probably need a rehabilitation loan for repairs.

7 votes

Getting a HUD home with bad credit is not impossible. Generally, HUD homes are for lower income first time home buyers.

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posted by lwillis (36)
7 votes

With the current economy the only way to obtain any house without a great credit score is to pay cash! HUD houses are generally lower price and some are quite affordable.

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posted by sara99 (841)
6 votes

Yes I think you can get a HUD home with bad credit as long as you meet the required demands ent in place to qualify. To obtain more information to get the process started you need to contact the Hud office in your area. Once they get your information they will have a better understanding of what you need

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posted by Bryan (76)
5 votes

It is possible to acquire a home through HUD with bad credit however to better your changes it is recommended that you have a down payment available to show that you would be able to make the payments. I recommend talking with a Realtor in person about your situation.

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posted by Chris33 (35)
5 votes

Yes. The best source available to you with a bad credit is probably the US Department of Housing and Urban Development or simply HUD.

3 votes

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