What is a HUD HOME

What is a HUD Home?

A HUD home is a residential home backed by an FHA insured mortgage that has been foreclosed by HUD. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. HUD is a government entity that stands for Housing and Urban Development; there are many different sectors under the HUD umbrella including foreclosures owned by HUD.

HUD Announces Launch of HUD Home Store

A few years ago launched a listing site for its list of homes it acquired thru foreclosure. The site, HUD Home Store.com  provides a list of their homes. This new site provides the public, brokers, state and local governments and nonprofit organizations a centralized location to search the inventory of HUD properties for sale. In addition, registered real estate brokers and other approved organizations can place bids on behalf of their clients to purchase a HUD property.
 Can I buy a HUD Home with a $100 Down?

Yes you can. Its not  a myth.
The program is for owner occupants purchasing a HUD HOME with FHA financing. Normally when purchasing a home using FHA, the required down payment is 3.5% of the purchase price. The $100 Down Program helps promote home ownership and minimizes out of pocket expenses for the buyers.

There are some requirements for this incentive program. The property must be a HUD home and purchased by an owner occupant who will live in the home for at least one year. The buyer must qualify for a loan through FHA financing or FHA Home Repair financing (203k). The buyer must bid f through a HUD-registered Broker/Agent.

HUD also allows for up to 3% toward closing costs if requested.
For more information, please visit www.HUDHOMESTORE.com
Please feel free to call or email with any questions or concerns.
Thank you,

Ainsley Daux
Florida Realty
HUD Registered Brokerage
Lic Realtor
(813)546-1954