The best resource to view HUD homes listings is through the official website for the U.S. Department of Housing and Urban Development, but there are plenty of other resources online to choose from.
HUD Homes Explained
What is a HUD home? These are homes that were once obtained using loans that were guaranteed by the Federal Housing Association. FHA loans are designed to assist people obtain mortgages that they may not otherwise get approved for as a result of low income or credit problems in the past. Unfortunately, not all people with FHA mortgages are able to keep up with their home loan payments and some of them wind up in foreclosure.
These foreclosed homes then become the property of HUD. The homes are offered to potential buyers, oftentimes at a very reduced cost. Many people who are looking for a residence or investment property look for listings of HUD homes to find out what properties are available for purchase.
Official HUD Homes Listing
You do not have to pay to access a HUD homes listing. The HUD website offers a listing that is easy to use and is offered free of charge.
To peruse the listing of HUD homes, start by selecting the state in which you want to purchase a HUD home. This will then take you to an external link that provides a HUD homes listing that is run by another source, which is usually a real estate company or some other source. Depending on which state you select and which source you are directed to, you may have the option to narrow your HUD home search by:
- Zip Code
- HUD Property Case
- Price Range
This can be a useful tool, especially if you want to view a broad range of HUD homes that are for sale. Most of the websites that are linked from the official HUD site usually offer additional resources, such as information regarding the process of buying a HUD home and the results from past bids to HUD homes that have already been sold. If you are new to the process of buying a HUD home, review the helpful information provided by these sites and learn as much as you can to make the process go smoothly.
Other Sources for Listings
There are plenty of other resources available online to review listings of HUD homes that are available for purchase. Keep in mind that there are many resources online that are absolutely free of charge. You should not pay a fee in order to access any of this information because the information is available abundantly online at no charge whatsoever.
Here is a brief listing of some of the sites online that offer listings of HUD homes for sale. This is merely a sample of the many sites offered because there are quite a few:
- All HUD: This site offers HUD listings for several states and also offers information regarding obtaining a loan to purchase a HUD home.
- USHUD.com.: This site provides information regarding HUD homes for sale in every state as well as Puerto Rico.
- Homes for Sale: This is a government site that not only lists HUD homes, but also offers listings of homes that have gone to foreclosure after having been originally guaranteed by the U.S. Department of Veterans Affairs.
Pay close attention to what the websites ask you for. Some sites may appear to be free of charge require a credit card number for full access to the HUD listings. Know that any time you input your credit card number into a website -secure or not- you are running the risk of having a charge eventually show up on that card.
Buy a HUD Home
Buying a HUD home can be an option for purchasing a home at a reduced cost. Be sure to familiarize yourself with the steps necessary for this type of home purchase.