HUD’s purpose is to make sure communities have enough housing and any other development assistance they might need. HUD runs or helps run programs that encourage homeownership and rentals, as well as reducing homelessness and diminishing housing discrimination.

What qualifies you for a HUD home?

Anyone with the cash or an approved loan can qualify for a HUD property. For FHA-insured properties, buyers can qualify for FHA financing with only 3.5 percent down with a minimum credit score of 580. FHA-uninsured properties don’t qualify for further FHA loans.

What is the difference between HUD Housing and low income Housing?

HUD housing units are federally owned for lower-income families, but the Section 8 lower-income housing program allows tenants to rent private residences approved by local housing authorities.