Hi Donna, What are the HUD Special Programs?

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Real Estate Agent with Cherry Creek Properties, LLC

Hi Donna, What are the HUD Special Programs?HUD Homes

When a potential buyer opens the website to search for HUD homes (www.HUDHomeStore.com), one of the options to search is HUD Special Programs.  What are the programs that HUD currently offers?  There are 3 programs currently offered by HUD:

  • Good Neighbor Next Door (GNND)
  • Dollar Homes
  • Non Profit

Each program is unique and benefits a different sector of the buying public.

Here are the highlights regarding the Good Neighbor Next Door program:

  • Available to law enforcement officers, pre-K through 12th grade teachers, firefighters and Emergency Medical Technicians (EMTs)
  • A 50% discount (incentive) off the list price of eligible homes
  • The purchaser must commit to living in the property for a minium of 36 months, as their sole residence
  • Eligible single family homes must be located in the designated revitalization areas (as determined by HUD)
  • Eligible purchasers may use FHA, VA or conventional financing, or pay cash
  • Only single unit homes, townhomes and condiminiums are eligible
  • The purchaser CANNOT negotiate the price

For more information about the Good Neighbor Next Door program, please click on this link.

The Dollar Homes program offers housing to low to moderate income families.  For more information regarding this program, please click on this link.  The Non Profit program allows local non profit organizations an opportunity to investment in the rehabilitation of their communities.  For more information regarding this program, please click on this link.

(HUD is the U.S. Department of Housing and Urban Development.)

 

If you are interested in learning more about HUD Homes or scheduling a showing of a HUD Home in the Metro Denver area, please contact The Foerster Team at (720) 530-5553.

Watch this blog site for available HUD Homes in Douglas County and the surrounding areas and additional information regarding HUD Home programs and purchasing HUD Homes.

 

Additional information about HUD Homes can be found by visiting the following links:

 

What is a HUD home?

How do I search for HUD homes?

What are the benefits of registering on the HUDhomestore website?

How much information will I find on the HUDhomestore website?

Who Can Purchase a HUD Home?

What is Repair Escrow?

What is the Meaning of 203K Eligible? 

 

(Clipart courtesy of Microsoft Office.)

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Donna Foerster

The Foerster Team

Rocky Mountain Real Estate Advisors

www.TheFoersterTeam.com

720-530-5554 (cell)

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Topic:
Home Buying
Location:
Colorado Douglas County Parker
Groups:
Advice for Buyers
WeBlog Anything (almost)!
Never Answer The Same Question Twice
HUD Homes
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Tags:
parker colorado
donna foerster
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Comments 14 New Comment

Rainmaker
783,270
Donna Foerster
Metro Denver Real Estate Agent
Cherry Creek Properties, LLC

Hi Doug~ All of the HUD Special Programs have eligibility requirements and some restrictions.  It's best to work with a Realtor to be sure you understand what's available.

Thanks Judy~ Blogging is the perfect tool for sharing this type of information with the public.

Hello Cinnamon~ Convenience is my middle name!  :-)

I want my clients to be educated, Anita.  Knowledge is power.

February 27, 2011 02:37 PM
Rainmaker
224,725
Susan Jackson
America's Network Realty Group, Inc

Great post.Thanks for emphasizing the price is not negotiable

February 27, 2011 03:35 PM
Rainmaker
783,270
Donna Foerster
Metro Denver Real Estate Agent
Cherry Creek Properties, LLC

Hi Susan~ Thanks for stopping by.  There are so many opportunities for Home Ownership.  There programs are just one avenue.

February 27, 2011 04:41 PM
Rainer
76,672
Jason M. Keith
Lending in 5280
WR Starkey Mortgage

Hello Donna, this is great information.  I'd say a couple times a year I get questions on the good neighbor program.  I made sure to put this on my blog as well!

February 28, 2011 12:26 PM
Rainmaker
783,270
Donna Foerster
Metro Denver Real Estate Agent
Cherry Creek Properties, LLC

Hi Jason~ Between the 2 of us, anyone searching for a home in Parker will be well educated and prepared!  :-)

February 28, 2011 01:26 PM
Rainmaker
783,270

Donna Foerster

Metro Denver Real Estate Agent
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