Buy a HUD home: financial help for seniors

If you want to buy a HUD home as a senior, the U. S. Department of Housing and Urban Development can help.

If you are a senior who is looking for affordable housing, you'll be happy to know that there are government-funded programs just for you. The U. S. Department of Housing and Urban Development (HUD) provides government housing programs for seniors and can help you buy foreclosed homes.

HUD can also help you find a rental, buy a HUD home or get a reverse mortgage. You may qualify for a rural housing loan or a Federal Housing Administration (FHA) loan. Many HUD programs will only help you if you have a limited income or special needs. If you do have a limited income, HUD can help you make a down payment on a home or pay for inspection fees, closing costs and other home-buying costs.

A HUD housing counselor can tell you the income levels that qualify for each program and which options are best for your situation. You can ask a housing counselor about HUD homeownership classes that teach you about programs like reverse mortgage, buying a HUD home or making your home more energy efficient.

If you want to buy a HUD home, a housing counselor can help you navigate the HUD Homestore website to find a property that fits your needs. You can also go to RealtyNow to look at foreclosure properties for sale in your area.

There are countless reasons why applying to buy a HUD home as a senior is a great choice. If you have more questions or need assistance, let RealtyNow help you find a realtor in your area who is familiar with buying homes through the Department of Urban Development.