What is the HUD?
HUD stands for Housing and Urban Development and is a department of U.S. Government. Since 1965, HUD has ensured smooth policy for housing and city development. Later, in the mid-1970s, the focus has turned mostly towards housing, leaving urban development up to individual cities.
HUD primarily helps people of low and middle income families acquire loans to purchase a home. HUD does not lend money but it approves lenders and supports them with materials.
HUD is involved in almost all aspects of real estate. They offer the following:
- Counseling for potential homeowners
- Funds programs for individual grants
- Supports organizations that offer advice on foreclosures
- Gives advice to those wanting to receive HUD assistance
- Addresses safety issues
- Investigates housing discrimination
- Offers senior housing
- Offers home repair
- Aids in homeowners insurance
- Handles incentive programs for other sectors of society besides low-income families
- HUD-approved housing online
The Federal Housing Administration (FHA) is closely related to HUD because it helps to guarantee mortgages to low-income homeowners. Find out more about how you can qualify for an FHA loan.
Return back to the FHA Mortgage Center home or the FHA Lending Guide.