The Department of Housing and Urban Development (HUD) sells homes acquired as a result of a foreclosure on a FHA-insured mortgage. Anyone who has the cash or can qualify for a mortgage can buy a HUD home.

A HUD Home may be a single-family house, a townhouse, condominium or other type of residence. HUD homes range in price, but most are affordable for low- and moderate-income Americans.

HUD Homes are offered on the sales market at fair market value, based on a recent appraisal. Offers for HUD Homes can only be made through a licensed real estate broker. Brokers are used because of their expertise in the local residential real estate market and because HUD does not have sufficient staff either to show properties to prospective buyers or to assist in those other aspects of home buying normally handled by brokers. The person making the highest acceptable bid is generally awarded that HUD Home.

HUD Homes, because they're sold in "as-is" condition, can often be a great, affordable opportunity for the fixer-upper. 

HUD Homes for sale:

Single Family Homes for Sale

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How to Buy a HUD Home:

Frequently Asked Questions About HUD Homes

HUD does not provide direct financing to buyers of HUD Homes. Buyer must obtain financing through either their own cash reserves or a mortgage lender.

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Keys to Buying Foreclosed and Bargain Homes
by Harvey W Rubin, Jack Friedman, Jack C. Harris
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