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HUD Homes


Special FHA Announcement:  HUD homes may be purchased with a $100 down payment. 


What is a HUD Home?
A HUD home is a 1 to 4 unit residential property acquired by HUD (Housing and Urban Devopment) as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim.

 

Who can buy a HUD Home?
Almost anyone! If you have the cash or can qualify for a loan you may buy a HUD Home. HUD Homes are initially offered to owner-occupant purchasers (people who are buying the home as their primary residence).

 

How are HUD Homes sold?
All properties available for purchase by the public are offered for sale at Internet listing sites maintained by management companies under contract to HUD. Any real estate broker registered with HUD may submit an offer and contract to purchase on your behalf.  Applicants must be verified before submitting and offer to purchase.

Get a List of Hud Homes Now Available in your Area

 

Are there any special programs?
Properties in designated areas are available at a reduced sales price to law enforcement officers, teachers, firefighters, emergency medical technicians, nonprofits and local governments. Read more about these Good Neighbor Initiatives in special programs.

 

What about financing?  How does one qualify? Although HUD does not offer financing directly, some of our homes qualify for FHA-insured loans.  Basically the criteria to purchase is fairly simple. 


SAMPLE OF ACTUAL HUD LISTING

>>>April 2009 LISTED HOUSE<<<

Spacious, nearly new home. Light open floorplan features island kitchen with huge walk-in pantry, formal DR (or study) & upper-level game room. Premium corner lot. Neighborhood amenity center with community pool, waterpark, playground, picnic gazebo & sports fields.

3/2.5/2     2,116 Sq. Ft.

Sold originally for $180,000+ in 2007

HUD ASKING PRICE:   $150,000

Monthly Payment:  $1286 Total Payment