GOOD NEIGHBOR NEXT DOOR PROGRAM

 

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 12^th 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.

If you are eligible for this terrific program or know someone who is, please call Angela McDonald at (602)369-6409.