Hi Donna, What are the HUD Special Programs?
When a potential buyer opens the website to search for HUD homes (www.HUDHomeStore.com), one of the options to search is HUD Special Programs. What are the programs that HUD currently offers? There are 3 programs currently offered by HUD:
- Good Neighbor Next Door (GNND)
- Dollar Homes
- Non Profit
Each program is unique and benefits a different sector of the buying public.
Here are the highlights regarding the Good Neighbor Next Door program:
- Available to law enforcement officers, pre-K through 12th grade teachers, firefighters and Emergency Medical Technicians (EMTs)
- A 50% discount (incentive) off the list price of eligible homes
- The purchaser must commit to living in the property for a minium of 36 months, as their sole residence
- Eligible single family homes must be located in the designated revitalization areas (as determined by HUD)
- Eligible purchasers may use FHA, VA or conventional financing, or pay cash
- Only single unit homes, townhomes and condiminiums are eligible
- The purchaser CANNOT negotiate the price
For more information about the Good Neighbor Next Door program, please click on this link.
The Dollar Homes program offers housing to low to moderate income families. For more information regarding this program, please click on this link. The Non Profit program allows local non profit organizations an opportunity to investment in the rehabilitation of their communities. For more information regarding this program, please click on this link.
(HUD is the U.S. Department of Housing and Urban Development.)
If you are interested in learning more about HUD Homes or scheduling a showing of a HUD Home in the Metro Denver area, please contact The Foerster Team at (720) 530-5553.
Watch this blog site for available HUD Homes in Douglas County and the surrounding areas and additional information regarding HUD Home programs and purchasing HUD Homes.
Additional information about HUD Homes can be found by visiting the following links:
(Clipart courtesy of Microsoft Office.)