HUD - Thinking About Buying a Home

www.hud.gov/topics/buying_a_home

Thinking about buying a home? We have information that can help! Got questions? Talk to one of our housing counselors! How to buy a HUD home.

Need Help?

1. Figure out how much you can afford

• Home Economics

• Homebuying programs in your state

• Talk to a HUD-approved housing counseling agency

2. Know your rights

• Fair Housing: Equal Opportunity for All - brochure

• Real Estate Settlement Procedures Act (RESPA)

• Borrower's rights

• Predatory lending

3. Shop for a loan

• Looking for the best mortgage: shop, compare, negotiate - brochure

• Let FHA help you

• Learn about interest only loans

4. Learn about homebuying programs

• Homebuying programs in your state

• Let FHA help you (FHA loan programs offer lower downpayments and are a good option for first-time homebuyers!)

• HUD's special homebuying programs

• Good Neighbor Next Door (formerly known as Teacher/Officer/Firefighter Next Door)

• Homeownership for public housing residents

• Indian Home Loan Guarantee Program (Section 184)

5. Shop for a home

• Wish list - what features do you want?

• Home-shopping checklist? take this list with you when comparing homes

• Homes for sale (including HUD homes)

• Fixer-Uppers - home purchase and repair programs

• Manufactured (mobile) homes

• Shopping for a Home FAQ’s

6. Make an offer

Making an offer

7. Get a home inspection

For Your Protection Get a Home Inspection

8. Shop for homeowners insurance

• Homeowners insurance

• What is homeowners insurance and why is it important?

9. Sign papers

Getting ready to close

Go to the HUD website to learn more about these steps here.