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How To Get a HUD Home

Your mortgage payments will depend on how much your down payment is. The higher your down payment amount, the lower your mortgage payments will be. Closing costs usually average to be about 3-4% of the purchase price of a home.

  • Single-family homes are made available through the program if six months have passed and the FHA is unable to sell the property.
  • HUD properties are sold as-is, so there won’t be room for negotiating the price or the terms of the sale after a bid is accepted.
  • These homes are usually available for lower-than-market value, with some repairs the buyer can sell them for profits or live as an owner-occupant.
  • The vacant homes must also have a current market value of $25,000 or less to be eligible for the program.

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