To find more information about these programs below and to search for HUD Programs near you, go to www.hudhomestore.com. Please call us at any time to discuss options on purchasing your first HUD home and come back to this blog next month for more HUD initiatives and information.
HUD’s Dollar Homes initiative helps local governments to foster housing opportunities for low to moderate income families and address specific community needs by offering them the opportunity to purchase qualified HUD-owned homes for $1 each.
Dollar Homes are single-family homes that are acquired by the Federal Housing Administration (FHA) as a result of foreclosure.
GOOD NEIGHBOR NEXT DOOR:
Buying a home through HUD’s Good Neighbor Next Door initiative is designed to encourage renewal of revitalization areas by providing an opportunity for law enforcement officers, firefighters, emergency medical technicians and teachers to purchase homes in these communities. HUD provides a substantial incentive in the form of a 50% discount off the list price of eligible properties. Bids for property must be submitted by a HUD-registered real estate broker.
The Federal Housing Administration (FHA) offers community and faith based nonprofit organizations the opportunity to purchase HUD homes at discounts up to 30%. With this discount, local nonprofit organizations invest in their communities through property rehabilitation and resell to first-time homebuyers and low to moderate income families.