Good Neighbor Next Door Program
The purpose of the GNND Sales Program is to improve the quality of life in distressed urban communities by encouraging law enforcement officers, teachers and fire-fighters/emergency medical technicians, whose daily responsibilities represent a nexus to the needs of the community, to purchase and live in homes in these communities.
- Pre K – 12
- Employed at State-Accredited Public and Private Schools
- Serving Students From the Area Where the Home is Located
- Employed by a Law Enforcement Agency of the Federal Government, a State, A Unit of General Local Government or an Indian Tribal Government
- Must be Sworn to Uphold and Make Arrests for Violations of Federal, State, Tribal County, Township or Municipal Law
Fire-fighters/ Emergency Responders
- Employed by a Fire Department or Emergency Medical Services Responder Unit of the Federal Government, a State, A Unit of General Local Government or an Indian Tribal Government
- Serving the Area Where the Home Is Located
- Earnest Money Is Required
- * 1% of the List Price (No less than $500 and No More than $2,000)
- Up to 50% Discount
- Home Must be Within a HUD-Designated Revitalization Area
- Must “Bid” 100% of the List Price
- Offers Selected by Lottery Number – Not Net to HUD
- Cannot Own Other Residential Real Estate
- Must “Owner-Occupy” the House for 36 months.
- If Buyer Uses FHA Financing
- * May Get Their Loan for $100 Down Payment
- * May Finance the Cost of Reasonable and Customary Closing Costs
- Buyer Must Qualify for the list price (not just the discounted amount)
- Silent Second Mortgage will be Recorded
- Silent Second Mortgage Will be Reduced by 1/36th on the Last Day of Each Month of Occupancy
- HUD WILL NOT PAY COMMISSION OR CLOSING COSTS
- * These items must be paid by the buyer
- * May finance these items if the buyer uses FHA financing
- Commission will not show on the sales contract – use special addendum
- All forms and certification documents can be found in Hometelosfirst.com.
Good Neighbor Next Door (GNND): Good Neighbor Next Door (GNND): Eligible GNND buyers can find details on the program on the following Web page - http://www.hud.gov/offices/hsg/sfh/reo/goodn/gnndabot.cfm.