Financing Your Dream Home
We have found your dream home, but what loan type and title company is best?
- Not all lenders do all loan types.
- In a bank owned property, if you use the bank's title company in many cases the bank will pay for the title insurance.
- On HUD Homes if you bid over the value HUD assigned not including repairs you have to pay the "excess" in cash otherwise it is $1000 down plus closing costs for FHA Financing.
- On Fannie Mae Reverse Mortgage Foreclosures, HUD guidelines will not let you roll the closing costs into the contract.
- However, on Fannie Mae including Reverse Mortgage please see the above statement regarding title company choice.
