Teachers Next DoorTo help strengthen America's communities HUD has developed the Teacher Next Door program. The Teacher Next Door program offers HUD-owned, single family homes to public and private school teachers at 50 percent discount. HUD homes may be purchased through HUD or a real estate broker. However, if a broker is used, the discount will be reduced due to the broker's commissions. Qualifications:
Teacher Next Door Frequently Asked Questions *Revitalization areas are typically in low- and moderate-income neighborhoods, have many vacant properties and often have high crime rates, but are considered good candidates for economic development and improvement. Homes offered for sale in the program were previously insured through the Federal Housing Administration (FHA) and then foreclosed. HUD also reduces the down payment requirement to just $100 if the home is purchased with an FHA insured mortgage.
|