HUD Good Neighbor Next Door Program
One of the many programs available through Teacher Next Door is HUD's Good Neighbor Next Door Program. Since teachers can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door Sales Program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence. APPLY NOW
How the Program Works
Eligible Single Family homes located in revitalization areas are listed exclusively for sale through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for five days.
How to Participate in Good Neighbor Next Door
Since Good Neighbor Next Door homes are only available for five days, the first step is to get your pre-approval. Once you are approved, Your licensed Teacher Next Door agent can provide a list of any Good Neighbor homes that become available in your area. Then he or she will submit your interest in purchasing a specific home. If more than one person submits on a single home, a selection will be made by random lottery. You must meet the requirements for teachers and comply with HUD's regulations for the program.
HUD requires that you sign a second mortgage and note for the discount amount. NO interest or payments are required on this "silent second" provided that you fulfill the three-year occupancy requirement.
You may also check listings in your area to see what’s available right now but please remember that bidding is only open 5 days.
The number of properties available is limited and the list of available properties changes daily
Who Can Participate?
Teachers Pre-K thru 12
You may participate in the Good Neighbor Next Door program as a Teacher if you are employed as a full-time teacher by a state-accredited public school or private school that provides direct services to students in grades pre-kindergarten through 12. In addition, the public or private school where you are employed as a teacher must serve students from the area where the home you are purchasing is located in the normal course of business.
What if I don't win the bid or ther are no Good Neighbor Next Door Homes available?
If the winning bid goes to another buyer or there are no Good Neighbor Next Door homes available in your area, we will still help you purchase ANY other home on the market. Your Teacher Next Door agent will help you locate the right home and negotiate the lowest price possible. We handle all of the purchase, finance and closing paperwork for you.
What is the next Step?
To Get started - CLICK HERE
To see other Teacher Next Door frequently asked questions (F.A.Q.'s) CLICK HERE