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What Is a HUD Home? Are the Savings Worth the Risks?

HomeLight

Collinge explains it’s best to first submit your electronic bid, and if it’s accepted, have a professional inspect the house during the 15-day due diligence period , before signing on the dotted line on the settlement date. Talk to your agent and a licensed loan officer to explore your options).

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

Conventional loans often require 20% of the purchase price, while government-backed mortgages could require much less (sometimes nothing!). Loans with less than 20% down often require buyers to pay private mortgage insurance until they reach a certain equity ratio. Due diligence period. Loan officer.