Good Neighbor Next Door Program

See the HUD Properties and Good Neighbor Properties

ABOUT THE PROGRAM

HUD wants to strengthen Americas's Communities and build a safer nation. The Good Neighbor Next Door Program helps make this goal a reality by encouraging Law Enforcement Officers, Teachers, Firefighters and Emergency Medical Technicians to become homeowners in Federal Revitalization Areas.

HUD's designated revitalization areas are neighborhoods that have many vacant properties, including properties in need of substantial renovation. The prolperties which are eligible for the program have been selected by the locality for economic development efforts.

All single family HUD Owned Properties that fall within designated census tracts in the designated revitalization area will be available under this program at a 50% discount to as-is appraised value. When a participant is awarded the contract on one of these they will be eligible for government backed financing where the mortgage down payment is as little as $100.

WHO IS ELIGIBLE?

OFFICER NEXT DOOR

As an Officer you must be full-time and sworn to uphold the laws and be able to make arrests for violations of Federal, State, County or Municipal Law. You must be employed full time by a Federal, State, County or Municipal Government or a Public/Private University or College.

TEACHER NEXT DOOR

As a Teacher you must be employed full-time by a Public School, Private School, or through a Federal, State, County, or Municipal Educational Agency as a state-certified Classroom Teacher orAdmisistrator in grades K-12.

FIREFIGHTER-EMT NEXT DOOR

You must be employed as a full-time Firefighter or Emergency Medical Technician by a Fire Deparment or Emergency Medical Services Responder Unit of the Federal Government, Local State, Unit of the Local Government, or an Indian Tribal Government serving the area where the home is located.

WHAT ARE THE BENEFITS TO YOU?

A 50% discout to the buyer from the as-is appraised value of the property
Properties are eligible for FHA Financing, which can include all closing costs and construction costs to rehabilitate the property.
The downpayment for eligible participants can be as little as $100.
After 2 years there will almost never be capital games from the sale of the home.
You are only required to live in the property for 3 years from the date repairs are completed on the property.
Real Estate Taxes and Interst paid on the loan are deductions to gross income.