To be eligible for the FHA’s Good Neighbor Next Door program, you must be a teacher, police officer, EMT, or fireman. Those who work in certain government positions are eligible for these reduced HUD housing prices through this program. If you have any questions about this one-of-a-kind ownership opportunity, SteveKnowsLoan has the solutions you’re looking for.
Just what is this Good Neighbor Next Door Program all about?
Participants in the Good Neighbor Next Door program are eligible to get a 50 percent reduction off the original list price of certain HUD properties. Properties that meet the program’s requirements are advertised for a week.
How do I become a Good Neighbor Next Door?
SteveKnowsLoan may assist you with the Good Neighbor Next Door Program property purchase. Here’s what you need to know to be eligible:
You need to be in the armed forces, in the medical field, or in the classroom to apply.
You need to have a credit score of 620 or above.
This rebate is valid only for the purchase of a home listed by HUD.
The area must be designated as a revitalization zone or an exemption zone by HUD.
A deposit of at least $100 is needed to secure your order.
For at least three years, the house must serve as your sole place of abode.
In the twelve months leading up to the purchase date, you are not allowed to own any other homes.
SteveKnowsLoan recognizes the stress that comes with trying to get a mortgage. Don’t allow this lengthy list of prerequisites deter you from pursuing your dream of homeownership. If you don’t think you’ll be accepted into this program, we can take another look.
If you have any further questions about the Good Neighbor Next Door Program, please let me know.
You can now decide if the Good Neighbor Next Door program is right for you by considering the following information in addition to the program’s prerequisites:
10- and 30-year fixed-rate mortgages are available through the program.
To receive the price reduction, you will need to sign a second mortgage and a note. Known as a “silent second,” this sum will not demand payments or interest if the requisite three-year occupancy period is met.
An essential qualification criterion is that you have a job in the area where you plan to buy a house.
Reach Out to SteveKnowsLoan Right Away!
SteveKnowsLoan looks at every possible mortgage option (not just the most well-known ones) to find the best one for each individual customer. If you’re interested in learning if the Good Neighbor Next Door program can help you become a homeowner, please contact us now.
Get in touch with one of our loan advisors today! Contact us!
Call Steven Jackson at 813-616-9411 now!
