FHA Home Mortgage Loan Interest Rates

2 Responses to “With buying a Hud Home, what do they mean when they say ‘eligible for FHA financing w/ repair escrow?”

1. loanmasterone says:

   November 3, 2009 at 12:05 pm

   FHA financing means that the lender that choose to lend on this property will get a guarantee from a federal agency called Federal Housing Administration (FHA), therefore if the house is ever in foreclosure this government agency would refund the lender the mortgage balance

   The repair escrow means that there are or will be funds in escrow to repair any hurt to the property up to a total or $4620.00

   FHA will send an inspector (FHA appraiser) to make sure the property repairs have been completed.

   I hope this has been of some benefit to you,excellent luck.

   "FIGHT ON"
2. Mike Duermyer says:

   November 8, 2009 at 6:13 pm

   That would be $5000 with a 10% override in North Texas, unless things vary around the country.

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