Well, I’ve heard of “price reduced” or “below market value” but 50 percent off? Not so often. The U.S. Department of Housing and Urban Development (HUD) has a special program called the Good Neighbor Next Door Program. It helps home buyers purchase a single family homes, condos or townhouses at 50% below the HUD appraised value. It is specifically designed for specialized industries (Fire & Rescue, School teacher, Law enforcement) in revitalized areas. Here are other perks of purchasing this type of home:
Little down- a couple thousand down to make it happen. It’s not even subject to the normal 3.5 percent down payment normally expected on an FHA loan. The down payment required is $100. You may also finance your closing cost. Earnest money is separate and is 1% of the appraised value.
Few homeowner requirements – It doesn’t even have to be your first home, but you must not have…
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