Would you like to buy a home for 50% of its value? You can if you are a Good Neighbor.
The Good Neighbor Next Door program from the U.S. Department of Housing and Urban Development (HUD) can help you do just that.
This program and loan is designed to help revitalize neighborhoods by giving a discount to people that provide essential community services. By encouraging Teachers, Police Officers, Firefighters and EMTs with the Good Neighbor Next Door Program, HUD helps place community role models in these changing neighborhoods.
The 50% discount on the home is tied to a commitment to live in the property for at least 3 years. If you live in the property for the required 3 years all the appreciation is yours. HUD does file a "silent second", no interest or payments due, to secure the terms of the discount. If you qualify for any FHA-insured mortgage program, your Downpayment is only $100 and you may finance the closing costs.
Who is Eligible?
Law Enforcement
Police Officers, Cops, Highway Patrol, Sheriffs, any law enforcement officer 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
Full-time Teachers employed by a state-accredited public school or private school that provide direct services to students in grades pre-kindergarten through 12. The home you are purchasing must be in a neighborhood serviced by the school you are employed by.
Firefighter / Emergency Medical Technicians (EMTs)
You must be a full-time Firefighter or EMT employed by a fire department or emergency medical service 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.
You do not have to be a First Time Homebuyer to be eligible for the Good Neighbor Next Door Program. You can't submit an offer if you have owned a home in the previous 12 months.
If you do not live in the home or must sell it before the 3 year requirement, you will pay back a portion of the assistance based on the time remaining. (formula: x/36, x =36-"months lived in property")
Find out what home are available in your area and get pre qualified today. CLICK HERE
Include your Name, Phone Number, Job Title, and State/County/City of where you would like to live.
If you would like more information on other Teacher Loans, Cop Loans, Police Officer Loans, Firefighter Loans, EMT or Doctor Loans click in the appropriate title and an information packet will be emailed to you shortly.
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This is great stuff! How do I find out if I qualify?