is it possible?
Campbell,
It seems like it should be possible. Investors are allowed to use FHA loans to purchase HUD homes; the drawback being that 85% LTV is the max you can get. However, if the company that was handling the HUD purchase could be persuaded to allow you to use Genesis or Nehemiah or another DAP program you could theoretically get the home for 100% LTV. The attorney who handles the HUD homes here in Dallas will not budge one inch on sales price and seller concessions, but that does not mean others won’t do it. Good luck and please keep me posted if you have any luck.
christopher w ,
Thank you fo rthe input Im not real familiar with the terms Genesis or Nehemiah or another DAP program . Could you please elaborate on these?