HUD Homes

HUD Information & Resources:

About HUD:

HUD (Housing and Urban Development) was created in 1965 as an Act originated by the Department of Housing and Urban Development, the Federal agency responsible for our national policies and programs that address America’s housing needs.  HUD was established as a Cabinet-level agency designed to improve our Nation’s communities by helping to create affordable and suitable home living environments for all Americans.  HUD has played an integral role in assisting low- to moderate-income families purchase homes through its mortgage insurance programs.

HUD’s Mission:

“HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business.”

Benefits of buying a HUD home

  • Seller will pay up to 3% closing costs when agreed upon in the contract
  • Escrow fee will be paid by HUD
  • Sales price based on FHA/As-is appraisal
  • Condominiums do not have to be appraised or have 51% ownership
  • FHA Appraisal has already been completed
  • IE (Insured with Escrow) financing types have the option of doing FHA standard loans with escrow repair of $5,000 after close of escrow
  • Low Earnest money deposit required $500/ or $1,000
  • Good Neighbor Next Door Program offers up to 50% discount for qualifying participants and properties
  • Quick Response to bids

How We Can Help:

The Funderburk Company is a HUD-approved buyer’s broker.  The company is fully informed on the latest HUD news and resources, and highly qualified to assist buyers in determining their eligibility to purchase a HUD home.  For further information regarding HUD, please visit the following web sites for additional information.  We encourage you to contact The Funderburk Company with any questions you might have, or for further assistance with a HUD home purchase.

(760) 743-1910 | 9512 Toyon Canyon Rd. Escondido, CA 92029 | CA DRE License #00960519