HUD homes are foreclosure homes owned by the government as a result of repossession. HUD homes result when the foreclosed home was initially purchased with a loan insured by the Federal Housing Administration (FHA). The department was established on September 9, 1965, when Lyndon B. Johnson signed the Department of Housing and Urban Development Act 1 into law.
Based on a sample of Rocket Mortgage clients who met qualifying approval criteria and specific loan requirements at the time of application. They are for first time home buyers, and these type of loans do not allow for someone that is trying …