The Good Neighbor Next Door Program offers HUD owned single family (one-unit) homes to eligible participants at a 50% discount.
In return you must commit to live in the property for 36 months as your sole residence.
Who Can Participate?
Law Enforcement
You may participate in the Good Neighbor Next Door program as a law enforcement officer if you are employed full-time by a law enforcement agency of the federal government, a state, a unit of general local government, or an Indian tribal government; and, in carrying out such full-time employment, you are sworn to uphold, and make arrests for violations of, federal, state, tribal, county, township, or municipal laws.
Teachers
You may participate in the Good Neighbor Next Door program as a Teacher if you are employed as a full-time teacher by a state-accredited public school or private school that provides direct services to students in grades pre-kindergarten through 12. In addition, the public or private school where you are employed as a teacher must serve students from the area where the home you are purchasing is located in the normal course of business.
Firefighter/Emergency Medical Technicians
You may participate in the Good Neighbor Next Door program as a Firefighter/Emergency Medical Technician if you are employed full-time as a firefighter or emergency medical technician by a fire department or emergency medical services responder unit of the federal government, a state, unit of general local government, or an Indian tribal government serving the area where the home is located.
The number of properties available is limited and the list of available properties changes weekly.
How Much of a Discount Can I Get on a HUD Home?
Answer: You can get a 50 percent discount off the HUD appraised value. For example, if HUD lists a home at $100,000, you can buy it for $50,000 provided, you occupy the home as your personal residence for the required occupancy period. If you qualify for any FHA-insured mortgage program, your downpayment is only $100 and you may finance closing costs.
To learn more, please see HUD's Good Neighbor Sales Frequently Asked Questions!
Below is an update on the homes offered on the GNND Program:4/5/10
Sacramento County:
SACRAMENTO
For more information about financing for the Good Neighbor Next Door, please email me and reference GNND. Please be sure to include you name and the best phone number to contact you back. I look forward to speaking with you soon.
Comments (2)Subscribe to CommentsComment