HUD GOOD NEIGHBOR NEXT DOOR PROGRAM

A super HUD program available to Police and Teachers - tough to beat a 50% discount:

GOOD NEIGHBOR NEXT DOOR PROGRAM

· HUD offers a substantial incentive in the form of a discount of 50% from the list price of a home to law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical techs.

· In return the borrower must commit to live in the property for 36 months.

· Eligible SFR homes are HUD REOs located in HUD determined “revitalization areas”. To search for HUD listings click the following link. http://www.mcbreo.com/st_azmain.htm. Click on “City” next to “View All Available Properties”.

· HUD requires that the borrower sign a second mortgage note for the discount amount. No interest or payments are required on this “silent second” provided that the borrower fulfills the 3 year occupancy requirement.

· You may use FHA, VA or conventional financing.

· The purchase contract must indicate that the property is eligible for the GNND Program.


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