HUD Homes 50 Percent Off!

Denise Goding

The Good Neighbor Next Door program offers lower cost housing to some homebuyers

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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