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To make a bid on a HUD Home, you will need to use a HUD-registered Selling Broker. Buyers Trust is a registered HUD selling broker, but don’t let the terminology fool you, We represent the buyer. Steve Schappert is the broker for Buyers Trust Real estate and Investment and Schappert is also an award winning home Improvement contractor. Schappert is the perfect choice to help you locate, negotiate and renovate a HUD home and walk you through the complexities of the FHA 203K rehab loan that allows you to finance the purchase and improvements.
The Department of Housing and Urban Development (HUD) sets income limits that determine eligibility for assisted housing programs including the Public Housing, Section 8 project-based, Section 8 Housing Choice Voucher, Section 202 housing for the elderly, and Section 811 housing for persons with disabilities programs. HUD develops income limits based on Median Family Income estimates and Fair Market Rent area definitions for each metropolitan area, parts of some metropolitan areas, and each non-metropolitan county. Learn More
Comprehensive Housing Market Analyses
Limited 203(k) Mortgage
FHA’s Limited 203(k) program permits homebuyers and homeowners to finance up to $35,000 into their mortgage to repair, improve, or upgrade their home. Homebuyers and homeowners can quickly and easily tap into cash to pay for property repairs or improvements, such as those identified by a home inspector or an FHA appraiser. Homeowners can make property repairs, improvements, or prepare their home for sale. Homebuyers can make their new home move-in ready by remodeling the kitchen, painting the interior or purchasing new carpet.
The Section 203(k) program is FHA’s primary program for the rehabilitation and repair of single family
properties. As such, it is an important tool for community and neighborhood revitalization, as well as to expand homeownership opportunities.
Contact Steve Schappert Now
to start the home buying process.