HUD Homes

A HUD home is a 1-to-4 unit residential property acquired by HUD (Housing and Urban Development) 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.

FAQs are available online here.  

Who can buy a HUD Owned Home?

Anyone! all HUD homes are offered without regard to race, color, religion, sex, national origin, handicap, or familial status. Anyone who is prequalified for a mortgage loan may offer to purchase a HUD owned home.

Buyers fall into 3 categories:

• Owner Occupants
• Investors
• Government Agencies and HUD approved non-profit organizations

Owner Occupants are given priority during certain cycles of the bidding process, must occupy the house for 1 year and cannot participate in HUD sales for 2 years after purchase. Investors cannot bid until day 31. There are no restrictions on quantity for investors.

HUD Homeownership Incentives...$100 DOWN!

Available to owner occupant buyers who purchase  HUD home with FHA financing.  Certain restrictions apply. Call for more information.

Understanding As-Is

HUD does not warrant the condition of its properties and will not pay for the correction of defects or repairs. Since the new owner will be responsible for making needed repairs, HUD strongly urges every potential homebuyer to get a professional inspection prior to submitting an offer to purchase.

If you are interested in acquiring a HUD Home that is in need of repair, you may be interested in applying for an FHA 203(k) Rehabilitation Loan. The borrower can get just one mortgage loan at a long-term fixed or adjustable rate, to finance both the acquisition and the rehabilitation of the property.

Property listings are posted on HUD Home Store  -- Or you can view them here.

The HUD Home Store is the listing site for HUD real estate owned (REO) single-family properties. This site provides the public, brokers, potential owner-occupants, state and local governments and nonprofit organizations a centralized location to search the inventory of HUD properties for sale. HUD Home Store also includes many informative user-friendly features providing advice and guidance for consumers on the home buying process.