What is the HUD Good Neighbor Next Door program and is it available in Denver? The Good Neighbor next door program is a terrific program through HUD, the U.S. Department of Housing and Urban Development, and luckily it is available in Denver and all of Colorado. The Good Neighbor program offers law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians the opportunity to purchase select HUD homes at 50% off list price.
I will say that again so it doesn't look like a typo. This select group of community members can purchase select HUD homes for 50% off the sales price. So what is the catch? Not much really. Hud believes that these select "Good Neighbors" can contribute to community revitalization, build a safer nation, and take an active role in the revitalization of cities.The only requirement is that the good neighbor own the home for three full years.
If buying one of these homes, you can still use an FHA loan with low money down options and can even qualify for a 203K loan that allows you to borrow money up front to fix up the home. Since there are only a handful of these homes available at any time, the competition for the homes can be tough. It is important to work with an agent familiar with this program and to keep a close eye on new listings. If you think this might be a good fit for you, let me know and I would be more than happy to explain it in more detail.
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