Hud Homes

What is a HUD Home?

A HUD Home is a property with an FHA insured mortgage that has gone into default. The lender acquires the property, submits FHA insurance claim, and then conveys ownership to the U.S. Department of Housing and Urban Development (HUD). HUD will then sell the home through their Asset Manager (AM), BLB Resources. A HUD Home can be a single family residence (SFR), townhouse, condominium, mobile home or multiple family attached home up to 4 units.

HUD Homes may be purchased by any individual, company, HUD-approved non-profit organization, or government entity that can secure financing or pay cash for the property. Interested buyers must submit bids through a HUD-registered real estate agent.

There are two main types of HUD Home purchasers: Owner Occupants and Investors. An owner occupant buyer is a person who will live in the property as their primary residence for at least one year and has not purchased another HUD Home as an Owner Occupant within the past two years. Investor buyers are people who purchase the property as an investment or as a second home, or who do not qualify as an Owner Occupant.

Answer: Read our section on how to buy a HUD home. Then look at the listings.agiorealestateinc.com of HUD homes available. If you find a home that interests you, you’ll need to contact a HUD-approved real estate broker (most brokers are HUD-approved), who can submit a bid for you. Successful bids are posted right on the page for your state.

For more information, you may also contact our FHA Resource Center by email at answers@hud.gov or by phone at (800) CALLFHA.

Answer: You can see lists of HUD homes for sale right on our web page. In addition, we link to listings.agiorealestateinc.com of homes being sold by other federal agencies. You can even get directions to the properties that interest you, see their locations on a map, and find out what schools are in the area.

Answer: No. HUD does not buy homes. The homes that HUD sells come into HUD’s possession as a result of defaults on FHA (HUD) insured mortgages.

Read our section on selling your home. It offers basic information that is good to know when selling your home.

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