Are you a government employee in law enforcement, teacher, firefighter or emergency medical techican?
This program from U.S. Department of Housing and Urban Development (HUD) offers law enforcement officers, pre-kindergarten through 12th grade school teaches, firefighters and emergency medical technicans a means to contribute to their community, by purchasing and revitialization of HUD pre-owned repossesed homes. HUD offers a substandtial incentive in form of a 50% discount from the purchase list price of these homes. In return the buyer must commit to live in the property for 36 months as their sole residence.
How does it work - The eligible single family homes are in revitaliztion areas and are listed exclusively for sale through the Good Neigbor Next Door Sales Program and are available for purchase for just seven (7) days. To participate you must check the listings for your state and follow the instructions to submit your interest in purchasing a specific home. If two or more potential buyers submit an offer on the same home a winning selection will be made by random lottery. You must be one of the qualify public servants listed above and comply with HUD's regulations governing this program.
A second mortgage and note is required
to be signed for the discount amount. No interest or payments
are required on this "silent second" providing you
fulfill the three-year occupancy requirement. Obviously the number
of properties available are limited and the list of available
properties changes weekly.
Many communities, particlarly larger cities
or those with more costly homes also have programs that they
sponsor and are designed to aid their public employees to afford
homes in the area where they work. If your public employ contact
your human resource office or community housing office about
"We've worked with Jaren since 2003, and he has belped us and our family members get through the mortgage process many times.
He is very well versed in the mortgage process, and is very patient. He is by far the best broker we've have ever worked with, and always has his customers well being at the forefront of all that he does. To this day anytime, I have a mortgage question I ask Jaren.
I had him help my parents, and my children in financing their properties as well. Anytime any of my friends took to financing I send them to Jaren. Hands down I do not think there is a better mortgage broker than Jaren Dahlstrom."
Gregory and Elizabeth H., Lathrop, CA