Buying A Home
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FHA vs HUD?

Hi, can someone explain the difference between these two? My husband and I got a FHA loan and his friend and his wife got a HUD loan? I've looked it up on the internet and having an issue with deciphering what it means. Some say it means more than one family moving in and some say its where a house is split in four sections for four families to move in. Thanks!
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Re: FHA vs HUD?

  • I cannot tell you what the difference is, but HUD is a government agency the Department of Housing and Urban Development.  An FHA loan is an opportunity that HUD offers to homeowners unable to put down a full 20% and does not take into account your credit score.  If you have a good credit score, but do not have 20% you can still qualify for a conventional loan, but the rate will not be as good.

    I know that HUD offers other home buying iniatives.  I would try thier website.

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