The HUD Home Buying Process

August 21, 2017

The HUD Home Buying Process

The Federal Housing Administration (FHA), a part of the U.S. Department of Housing and Urban Development (HUD), requires federal mortgage insurance when a borrower puts less than 20 percent down. This ensures that mortgage lenders will be reimbursed in the event home buyers default on the mortgage.

A HUD home is a one to four unit residence acquired by HUD as a result of a foreclosure on an FHA-insured mor…

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