HUD is generally responsible for government housing and urban development. It implements programs that include low-rent public housing, mortgage insurance for residential mortgages (FHA), equal opportunity in housing, energy-efficient mortgages, and research and technology.

FHA primarily assists home buyers in providing mortgage insurance to lenders that covers most losses incurred when a borrower defaults; this encourages lenders to make loans to borrowers who might not qualify for conventional mortgages.  A FHA loan allows for a lower down payment with a good rate.  It also allows people who have have past credit problems to get a good rate and loan.  We use it as a step better bad credit and good credit.  You get a good rate with marginal credit.  Usually to get a FHA loan you have to have cleaned up your credit for 12 months.  FHA also does loans for people with no credit history with alternative lines such as rental history, cell phone history or utility history.  You can have no credit scores and still get a loan.

VA offers loans from an approved lender and a guarantee by the Department of Veterans Affairs. All veterans, and evyerone who currently serves in the United States military are eligible for a VA loan. 

You can or search for HUD approved condos anywhere in the United States via these links.