Is it easy to qualify for a mortgage when buying a HUD home?

With the current lending standards, i'm wondering if the same applies to HUD homes. I live in texas and found a hud home that's listed for $95,000. My credit score is about a 620 which i know is horrible. Is it possible to qualify for a loan and about how much would our payments be?Is it easy to qualify for a mortgage when buying a HUD home?
Good news, if you buy a HUD home with an FHA loan you can actually get in with just $100 down in stead of the normal 3.5% down!


As long as your mid score is a 620, you should be fine as long as you don't have things like a foreclosure, bankruptcy, judgment or tax liens on your credit. If you do have any of these things it will be a little more difficult.Is it easy to qualify for a mortgage when buying a HUD home?
I would try for an FHA loan. It's hard to say what your payment would be because it depends on what you qualify for.





Use this calculator to get an idea of what it will cost you monthly, you can change the rate. Please remember that the figures on this site can only tell you the mortgage amount and would not figure in tax and insurance which you will also have to pay.





http://www.bankrate.com/calculators/mort鈥?/a>





Good luck!