Yep, you read that right – and right now there are quite a few homes available in Central Florida / Orlando.
The Good Neighbor Next Door program – or GNND – offered by the U.S. Department of Housing and Urban Development (HUD) allows law enforcement officers, pre-K through high school teachers, and firefighters/EMTs to purchase single-family homes for half off the list price. Sound too incredible to be true? Well, it is true, but there are some other details to be aware of:
- The homes in the GNND program are offered for sale only through the program for five to seven days
- The homes are located in areas that HUD has designated as a “revitalization zone”
- If more than one person is interested in a GNND home, the winner is chosen by random lottery
- You must commit to live in the home for 3 years after purchasing
The purpose of the Good Neighbor Next Door (GNND) sales program is to improve the quality of life in urban communities by encouraging Law Enforcement Officers, Teachers (PreK-12), Firefighters, and Emergency Responders (EMTs) to purchase and live in homes in these communities.
How the Program Works
Eligible Single Family homes located in revitalization areas are listed exclusively for sales through the Good Neighbor Next Door Sales program. Properties are available for purchase through the program for five to seven days.
How to Participate in Good Neighbor Next Door
Check the listings for your state. Follow the instructions to submit your interest in purchasing a specific home. If more than one person submits on a single home a selection will be made by random lottery. You must meet the requirements for a law enforcement officer, teacher, firefighter or emergency medical technician and comply with HUD’s regulations for the program.
HUD requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this “silent second” provided that you fulfill the three-year occupancy requirement.
The number of properties available is limited and the list of available properties changes weekly.
To learn more, please see HUD’s Good Neighbor Sales Frequently Asked Questions or, as always, feel free to contact me and I will be happy to assist you in locating and purchasing an eligible property for you!
All my best,
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