Are you interested in purchasing a HUD home? Do you have some questions about HUD homes? Here are some answers.

What is a HUD Home?
A HUD home is a 1 to 4 unit residential property acquired by HUD 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 (subject to certain restrictions) 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). Following the priority period for owner occupants, unsold properties are available to all buyers, including investors.

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.

Do you have more questions than what is here? Give me a call, I would love to answer your questions, and if I don’t know the answer I will do my best to get you the right answer!

Are you interested in purchasing a HUD home? Let me know I can help you with that. I can set you up for get email alerts on any city you are looking at.