HUD Homes
Good Neighbor Next Door Program
Buying a home through HUD's Good Neighbor Next Door initiative encourages 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 50% discount off the list price of eligible properties if the purchaser lives in the home for three years (the discount is prorated over 36 months). Bids for the property must be submitted by a HUD-registered Real Estate broker.
HUD-Approved Nonprofits
The Federal Housing Administration (FHA) offers Nonprofits the opportunity to purchase HUD homes at a discount. With this discount, Nonprofits invest in their communities through property rehabilitation and resales to low-to-moderate income families. The FHA requires all Nonprofits to obtain approval. Click here for information about FHS's Nonprofit programs and the Nonprofit approval process.
Dollar Homes
Government Agencies may have the opportunity to purchase qualified HUD-owned homes for $1 each. HUD's Dollar Homes initiative helps local governments provide housing for low-to-moderate income families and address specific community needs. Dollar Homes are single-family homes that were acquired by the Federal Housing Administration (FHA) as a result of foreclosure and have been on the market for an extended time.