Good Neighbor Next Door Sales Program
Law enforcement officers, teachers, firefighters, emergency medical technicians (EMT) are eligible to receive a 50% discount off select HUD owned homes through HUD's Good Neighbor Next Door Sales Program.- 50% discount off the list price of the home
- Discount is obtained by home buyer signing a forgivable promissory note for the amount of the discount. The discount is forgiven over a 36 month period. The amount of note that is forgiven is 10% the first year, 40% the second year, and 70% the third year
- Home buyer must commit to live in the property for 36 months as their sole residence
- Down payment of only $100 required
- Contract price must be equal to or above the list price
- If multiple offers are received, the winning bid will be determined by a lottery system
- Repairs and improvements to the property can be made using the FHA 203k loan program
- Law enforcement officers must be employed full-time by a law enforcement agency at the federal, state, or local level
- Teachers must be employed full time time by a state-accredited public school or private school for pre-kindergarten through 12th grade. Also, the home purchase must be located in the school district in which the teacher is employed
- Firefighters and EMT must be employed full-time by the federal, state, or local government of the fire department or emergency medical service provider
- Also known as the Officer Next Door and Teacher Next Door program
- To obtain a free list of houses that qualify for the Good Neighbor Next Door Sales Program click here
