Good Neighbor Next Door
50% off HUD homes for teachers, police, & fire

HUD's Good Neighbor Next Door Program


Featured Listings
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$25,000.00
7741 Dexter Ave
Detroit, MI 48206
Type: Residential
Size: 2,179 Sq. Ft.
Lot Size: 4,577 Sq. Ft.
Year Built: 1919
Bedrooms: 5
Bathrooms: 1.1
Description
Detroit teachers, fire, and police pay only $25,000 which is a 50% reduction from the current valuation of $50,000. Read more »
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$25,500.00
603 Melville Ave
Baltimore, MD 21218
Type: Residential
Size: 1,280 Sq. Ft.
Lot Size: 1,800 Sq. Ft.
Year Built: 1920
Bedrooms: 4
Bathrooms: 1
Description
Baltimore teachers, fire, and police pay only $25,500 which is a 50% reduction from the current valuation of $51,000. Read more »
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$36,500.00
232 W Edgevale Road
Baltimore, MD 21225
Type: Residential
Size: 960 Sq. Ft.
Lot Size: 2,000 Sq. Ft.
Year Built: 1945
Bedrooms: 3
Bathrooms: 1
Description
Baltimore teachers, fire, and police pay only $36,500 which is a 50% reduction from the current valuation of $73,000. Read more »
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$47,500.00
1030 E Calwa Ave
Fresno, CA 93706
Type: Residential
Size: 1,124 Sq. Ft.
Lot Size: 7,337 Sq. Ft.
Year Built: 1951
Bedrooms: 3
Bathrooms: 1.5
Description
Fresno teachers, fire, and police pay only $47,500 which is a 50% reduction from the current valuation of $95,000. Read more »
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$49,000.00
3720 W 13th St
Little Rock, AR 72204
Type: Residential
Size: 1,468 Sq. Ft.
Lot Size: 5,980 Sq. Ft.
Year Built: 2013
Bedrooms: 3
Bathrooms: 2
Description
Little Rock teachers, fire, and police pay only $49,000 which is a 50% reduction from the current valuation of $98,000. Read more »
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$52,000.00
5711 Sweetway Terr
Capitol Heights, MD 20743
Type: Residential
Size: 1,280 Sq. Ft.
Year Built: 1991
Bedrooms: 2
Bathrooms: 1
Description
Capitol Heights teachers, fire, and police pay only $52,000 which is a 50% reduction from the current valuation of $104,000. Read more »
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$57,500.00
2282 Florian St
Hamtramck, MI 48212
Type: Residential
Size: 1,876 Sq. Ft.
Lot Size: 3,500 Sq. Ft.
Year Built: 1916
Bedrooms: 4
Bathrooms: 2
Description
Hamtramck teachers, fire, and police pay only $57,500 which is a 50% reduction from the current valuation of $115,000. Read more »
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$57,500.00
1109 S Mallery St
Deming, NM 88030
Type: Residential
Size: 1,911 Sq. Ft.
Lot Size: 12,460 Sq. Ft.
Year Built: 1982
Bedrooms: 3
Bathrooms: 2
Description
Deming teachers, fire, and police pay only $57,500 which is a 50% reduction from the current valuation of $115,000. Read more »

The Department of Housing and Urban Development offers the 50% off Good Neighbor Next Door Program for full-time teachers, police officers, firefighters, and EMTs employed with the fire department.

The listing period for this lottery program is seven days. During this time, a HUD-registered real estate broker must be utilized to enter qualified GNND buyers. The business day following the lottery deadline, HUD will choose a winner and two back-ups at random. The winner will have the option of signing a contract with HUD for no more or less than 50% off the home's current valuation. In addition to signing the contract, the winner must submit an earnest deposit to HUD. The amount of the earnest money deposit required is an amount equal to one percent of the list (pre-discounted) price, but no less than $500 and no more than $2,000. This amount will be credited back to the buyer at closing.

Participants must be employed in the area and their employer must provide service to the available home. For Pre-K-12 teachers, the employer is considered the school district and not the neighborhood school. Pre-K-12 teachers at accredited private schools also qualify for this program.

Individuals in these occupations qualify for this program if they have not had ownership in a residential property in the previous 12 months and have never purchased a GNND property. Financially, they must be able to provide proof of funds or a prequalification letter from a mortgage company.

Lastly, they must agree to own and occupy the home for three years after closing. During this time, HUD will hold a silent second mortgage for the discounted amount. GNND participants aren't required to qualify financially for this second mortgage and there is no monthly payment or interest associated with it. At the end of the 36 month period, the second mortgage will be automatically released. If the GNND participant sells the property before the 36 month period, HUD will require a prorated discount payback based on the number of months the participant owned the home. 

If the GNND participant chooses to finance with FHA, the down payment can be $100 and all allowable closing costs can be added to the first mortgage. Qualified participants must utilize a HUD-registered real estate broker to enter the lottery, assist with the process of closing, and provide access to the property.The GNND participant is required to pay a buyer premium or commission to real estate broker. The GNND program allows participants to add the broker fee to their FHA mortgage. 

These homes are sold "as-is." They will vary in condition and are subject to buyer's inspection. After the lottery-awarded buyer signs an accepted contract, he/she will received a 15 day inspection period and given the option to move forward or cancel the contract based on the inspection results. If, in the 15 day period, the participant chooses cancel the contract due to an issue discovered in the inspection, HUD will return the earnest deposit.

HUD chooses these homes based on the location and not the condition. Homes qualify if they are located in HUD-designated revitalization areas. These are areas with a higher than average FHA foreclosure rate and a higher than average renter to owner ratio.

If GNND homes are in need of a renovation, FHA offers a renovation mortgage called the FHA 203K. It will allow the borrower to finance the renovation costs into their mortgage, leaving just one monthly payment. 

 

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GNND Buyer - Testimonial

The purpose of www.usahuds.com is to both educate and connect. We educate you on the Good Neighbor Next Door program and connect you with local real estate brokers who have experience with the program. We are not affiliated with HUD and are not the listing broker for the properties that are included on this site.
OK RE BROKER: Stephanie Morris-Clark, KWCO. An Equal Opportunity Company. Equal Housing Opportunity.
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