Are you a teacher, fireman, EMT or police officer looking to purchase a new home?
If so, you can qualify for HUD’s Good Neighbor Next Door program and save 50% on the purchase of your home!.
WHAT IS THE GOOD NEIGHBOR NEXT DOOR PROGRAM?
• The Good Neighbor program is specially designed to help full-time firemen,
EMTs, police officers and teachers (pre-K- 12th grade) purchase affordable
homes in their community
• HUD will offer a 50% discount off of the purchase price of the home
• Home financing is available through FHA
HOW DOES THE PROGRAM WORK?
• The subject property must be located in a HUD revitalization area and be
listed for sale through the Good Neighbor Next Door program.
• The homebuyer can not have owned a home for a period of not less than
one year prior to submitting an offer
• The homebuyer must commit to living in the home as their primary residence
for three years
• HUD will subsidize the sales price of the home by 50% through a “silent”
second mortgage, which requires no payments or interest (provided the
homeowners fulfills the three year occupancy requirement)
• At the end of the three year period, the second mortgage is forgiven and the
homeowner keeps all equity in the home
Call Ed @240-375-2871 if you would like more information
6 Comments
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