do you need a proof of funds letter for HUD homes

Bird Dogs, Wholesaling
1

i was just wondering if you needed a POF letter to make offers on HUD homes like you do for REO properties thanks in advance

2

you mainly need pof for any deal that is listed by a realtor or real estate agent.

3

are hud homes listed with realtors or agents

4

I believe so. In any event, all offers for HUD homes must be submitted via a HUD authorized Real Estate Agent. You can find one through the HUD website.

5

thanks for the info :biggrin :biggrin

6

Anytime you’re buying real estate and not paying cash you will need a POF letter or lender approval lender. Agents almost always demand it now and bank will definitely want it. Even it there is some doubt as to whether you need it, it’s a good idea to have one. Try to line up a lender before you start doing your investing and it will be a lot easier to get the approval letters later.
I’m retired now but when I was a mortgage broker I required a financial package on the borrower and then anytime they needed a letter it was no problem. Make your package look as good as
possible without fudging too much.

Good luck,
donrock