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HUD Homes

A HUD home is a 1-4 unit property acquired by HUD because of a foreclosure action on an FHA insured mortgage. HUD becomes the owner of these properties and at times offers the sale of these homes at a reduced price to cover the loss of the claim.

In order to buy a HUD property you must be pre-approved and working with a real estate agent to make an offer.

HUD $100 down payment program

HUD properties currently have a program that only requires you to put down $100. In order to get this special incentive you must offer full price on the HUD property and the financing must be FHA. FHA loans typically require you to put down 3.5% of the sales price. With this program you will need $100 dollars, $1000 earnest money, and any closing costs not paid by HUD. Currently HUD will only pay 3% of your closing costs.

With all the current HUD foreclosures on the market, there are many properties to choose from.

Call us with any questions at 1-800-223-7409

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18170 Dallas Parkway, Suite 304, Dallas, TX 75287
O: 1-800-223-7409 C: 469-438-5587 F: 972-767-4370

Mike Clover NMLS #234770, Homewood Mortgage, LLC NMLS #294974