Denver HUD Home Sales Programs - Good Neighbor Next Door
There are lots of ways you can get a great deal on a Denver hud-owned home. For instance, HUD has several sales programs aimed at building communities and making housing affordable, one of them being the Good Neighbor Next Door (GNND) program.
GNND offers a huge incentive for law enforcement officers, firefighters, emergency medical technicians and teachers (pre-K through 12) to buy a Denver HUD home. Qualified buyers can receive a fifty percent discount off the list price of specified HUD properties, including single-family homes, townhouses and condos.
With GNND, HUD aims to revitalize communities by encouraging homeownership and drawing in dedicated public servants. The program is available in designated "Revitalization Areas," chosen by HUD based on:
1. Household Income,
2. Homeownership Rate, and
3. FHA-insured mortgage foreclosure activity.
Buyers must commit to keep the HUD home as their primary residence for at least 3 years, and sign a second mortgage and note for the discount amount. No interest or payments are required on this “silent second” provided that the buyer fulfills the three-year occupancy requirement.
Properties are available for purchase through the program for five days, as the homes available through the program change weekly. Buyers must offer the exact HUD list price when bidding on any GNND property, and the discount will be applied provided they meet the eligibility requirements.
Start by checking the listings here, and feel free to contact us with any questions you may have, or to schedule an appointment to see a HUD home in the Denver area 303-955-4220