HUD Homes

What is a HUD Home?
A HUD Home is a 1-4 unit single-family residence acquired as a result of a foreclosure on an FHA-insured mortgage. These homes are offered for sale at fair market value based on recent appraisal. They vary in price, condition, and location. HUD Homes are sold as-is, meaning they come with no guarantees or warranties. It also means that no repairs have been made to the home past making it safe, secure, and marketable.

Why should you Buy a HUD Home?
The home will be appraised and listed at its actual value. This means that the listing price will reflect the worth of the home in its current condition as well as the cost of repairs Buyers will make. The home can be paid for in cash or with a loan, if the Buyer qualifies. HUD offers incentives and specialized programs to Buyers of HUD homes, such as the FHA 203(K) Rehabilitation Loan. Buyers can also request HUD pay the closing costs on their home.

HUD Listings:

HUD Home Properties in Brevard County $1- $50,000

HUD Home Properties in Brevard County $50,001 and Higher

HUD Home Properties in Indian River County

For more information go see  Please call or email us and we can set you up on a personalized search for HUD homes, foreclosure properties and any other type of property.  To be set up on your personalized search , if  you have any questions or if you'd like additional information call Lynn directly at 321-427-6788 or you can email

What types of loans and mortgages are available?
There are several types of loans and mortgages available to HUD Homes as well as other properties you are looking for purchase and each loan has unique qualification requirements. Please be aware, that the home itself also has to qualify for that type of loan as well.

To qualify for any loan you will be required to provide:
Last 2 years tax returns
Last 2 bank statements  

Last month's worth of paystubs

There will also be additional information your lender will require. Please contact us directly for lenders we have worked with.

All the loans below require Homeowners Insurance as well as a Survey.

Loan Types:
-Conventional: 80% loan, 20% down.
-VA: 100% loan. Must have served or be on active duty in the U.S. Military. Those who qualify can purchase a primary residence with no money down so long as the purchase price does not exceed the appraised property value.
-FHA: 96.5% Loan, 3.5% Down. The standard guideline for the debt ratio is 29%. Minimum medium credit score of 620. 
      -Standard FHA: Does not include any requires. The home must be move in ready.
      -203K Loan: Allows the Buyer to finance the purchase and rehabilitation of the home through a single mortgage. Minimum of $5,000 of potential repairs excluding minor or cosmetic improvements.
      -203B Loan: Allows the Buyer to finance the purchase and rehabilitation of the home through a single mortgage. Offers a low down-payment, flexible qualification requirements, maximum loan amount and limited lender fees. Maximum of $5,000 of potential repairs excluding minor or cosmetic improvements.
      -The Energy Efficient Mortgage (EEM): helps a homeowner save money on future utility bills by financing the costs of adding energy-efficient features to a home. Can be used with 203B and 203K loans as well.

The FHA also offers special loans for disaster victims and members of the armed forces. Talking to local lenders can help Buyers decide which loan or mortgage is right for them.

Required Information to make an offer on a HUD Home:

1. HUD requires the following information for each Buyer:

Full Legal Name:
First Name:
Middle Name:
Last Name:
Full Address:
Phone Number:


If a company is putting in an offer, the above information is needed for the authorized signor as well as the following information for the company:

Full Company Name:
Company Address:
Phone Number:


2. Purchase Price: How much the Buyer is offering on the home. Please remember that HUD will take the offer price and subtract the closing costs and commissions, and will only look at the net offer amount in considering your offer.

3. Is the purchaser an Owner Occupant or Investor?
An owner occupant is a person who is going to make this their primary residence within 60 days. HUD considers an Investor someone who is going to be using the property as a second home, rental, or to rehab and sell. Investors can not make offers for the first 15 days a property is listed, only owner occupants can.

4. Any Seller paid Closing Costs?
Sellers can pay up to 6% of the property's sale price towards the Buyer's closing costs. This must be stated in the offer terms so that both the Buyer and Seller are aware of their responsibilities.

Only Realtors who have gone through the application process and have a NAIDS number can submit an offer for you. We are one of the few Brokerages in Brevard and Indian River County who has a NAIDS number and can submit an offer on a HUD Home for you.

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