Are you a Pre-K – 12 teacher, Law enforcement officer, firefighter or emergency medical technician? If so, you are a good neighbor and can take advantage of the Housing and Urban Development’s (HUD) Good Neighbor Next Door Sales Program (GNND). HUD discounts the cost of the property by 50%. The primary catch is that this has to be your primary residence for at least 3 years (36 months).
Of course, like any other program, there are restrictions and limitations in order to determine best qualified candidates or beneficiaries. For starters, properties available in this program are usually located in geographic areas authorized by Congress under provisions of the National Housing Act also known as Revitalization Areas. These areas are designated based on Household Income, Homeownership Rate, and FHA-insured mortgage foreclosure activity.
So, how do you qualify for these houses and where exactly can you find them? Well, as stated above, you must be employed full-time by a law enforcement agency of the federal government, a state, local government, or an Indian tribal government. If you are a teacher, you must be employed full-time by a state-accredited public school or private school that provides direct services to students in grades pre-kindergarten through 12. You may also qualify as a firefighter or emergency medical technician if you are employed full time by a fire department or emergency medical services responder unit of the Federal Government, a State, local government, or an Indian tribal government. See HUD Good Neighbor Eligible Participants for more details.
With regards to locations, start your search at HUD Homes for Sale. Available listings are shown by state; simply click on your state on the map and narrow your parameters as required. Understandably, there isn’t a huge inventory of homes in this program. Nonetheless, keep an eye out and take advantage of it should a property become available that meets your needs.
Visit HUD Good Neighbor Next Door Program for additional information on this program.
