Qualifying for a HUD Home in Boise, Idaho: Key Criteria

To purchase a HUD home in Boise, you must meet these requirements:

• Credit Score: Minimum 580.
• Income: Sufficient to cover mortgage, taxes, insurance (HUD uses a specific formula).
• Debt-to-Income Ratio: ≤43%.
• Residency: U.S. citizen or lawful permanent resident; must occupy as primary residence.
• Home Inspection: HUD homes are sold "as-is"—inspection highly recommended.
• Purchase Price: Based on appraised value; HUD won't sell below appraisal.
• Down Payment: Minimum 3.5% (FHA financing may allow down payment assistance).
• Closing Costs: Typically 2–5% of purchase price (title, recording, appraisal fees).
• Occupancy: Must move in within 60 days of closing (proof required).
• Insurance: Homeowners insurance required at closing.

Meeting these criteria improves your chances of qualifying. Work with a HUD-approved lender and real estate agent for guidance.