When you are searching for HUD home sales Maryland, the Internet can be an extremely valuable tool. Since some areas of Maryland are quite expensive to buy a house in, finding a suitable HUD home can save quite a bit of money.
HUD Homes Explained
HUD homes are homes which were once FHA guaranteed but have since been foreclosed on. Oftentimes buyers can purchase HUD homes are reduced prices, resulting in a great savings. HUD homes are sold as-is, but this does not mean that there is anything necessarily wrong with every HUD home put up for sale.
HUD homes in Maryland are offered to teachers, law enforcement officers, hurricane evacuees, and other specific groups at a discounted rate. You can find out more information about these programs by contacting HUD.
Find a HUD Home in Maryland
To find HUD home sales Maryland, you can search on to the HUD website website and search according to various factors:
- Location by zip code
- Price range
- Homes with recently reduced prices
Websites like HomeSource are extremely valuable when you are searching for a HUD home in Maryland. Not only can you find HUD homes, but you can also find out additional information regarding the process of buying a HUD home.
Find an Authorized Agent
HUD home buyers must work with an authorized agent. There is an abundance of authorized agents in the state of Maryland, and you can locate a suitable agent by contacting your local office.
HUD Home Sales Maryland Resources
The U.S. Department of Housing and Urban Development offers plenty of valuable home-buying resources for Maryland residents.
- Housing Counseling Agencies: These agencies are approved by HUD to offer educational assistance to Maryland residents who are either interested in buying a home or who already own a home. If you are thinking of purchasing a HUD home, these agencies can assist you with financial counseling. Agencies are located throughout Maryland.
- Legal Assistance: HUD endorses various agencies which supply legal assistance and advice against predatory mortgage lending to Maryland residents. These agencies will let you know all about your rights as a homebuyer.
- Financial Assistance: There are several different resources for financial aid to Maryland residents purchasing a HUD home. Low-income residents may be eligible for grants, vouchers, or even reduced costs when buying a HUD home. Various communities throughout Maryland also have special financial assistance programs for low-income buyers.
If buying a home is new to you, then you may want to familiarize yourself with the information on these other informative websites:
- DHCD: Maryland Department of Housing and Community Development
- Maryland Legal Aid Bureau
- Maryland Real Estate Commission
With so many resources available to prospective HUD home buyers in Maryland, there is no reason why purchasing a home should be a completely confusing process. There are plenty of organizations willing to assist Maryland residents who would like to buy a home, and purchasing a HUD home is no different.
Maryland residents who are eligible for governmental assistance through the Veterans Administration should apply for an eligibility certificate from the VA before shopping around for a HUD home. Eligibility certificate requests take some time to process, although some lenders will accept VA mortgage loan applications prior to the applicant having the eligibility certificate in hand. The is necessary before the loan can close, however, so be sure to make obtaining the certificate a priority.
Do it Yourself
You don't have to pay someone else to find a suitable HUD home for you. The listings are available to the public free of charge, and if you do enough research you can certainly learn enough about the HUD home-buying process to where you don't have to pay someone an outrageous fee to hold your hand through the procedure.