I just spoke with a lender today who stated that with HUD, an FHA loan will not cover anything more than the bid price for the home. That leaves closing costs, taxes, fix-up costs, etc… that will NOT be covered by the loan. Is this 100% right and is there a sensible alternative/option (non-cash) to overcoming this cost issue? Thank you in advance for your help.
Tags: amplifier, auto auction, bid price, bismarck sea, closing costs, credit questions, current interest rate, donovan, electric guitar, fha loan, FHA Loans, guitar amp, HUD, HUD Loan, hud secretary, mortgage rates, property ladder, tax credit legislationPosts Tagged ‘auto auction’
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