Good Neighbor Next Door
| Program Overview | |
| Good Neighbor Next Door is a program that provides a 50% discount on HUD homes with as little as a $100 down payment. This program is specifically for firefighters, medical technicians, police officers, and teachers/faculty in grades K-12. Houses must be located in one of Montana’s HUD-designated revitalization areas: Billings, Butte, Cut Bank, Glasgow, Great Falls, Havre, Helena, Kalispell, Missoula and Polson. | |
| Who is eligible for this program? | |||||
| Borrower must be employed full-time as either a police officer, firefighter, teacher/faculty (PreK-12), or emergency medical technician. Earnest money is now required and due at time of contract signing and is 1% of HUD’s listed price. This must be in the form of a cashier’s check payable to the U.S. Dept. of HUD. All participants must be employed full-time by a federal, state, county, or municipal government; Indian tribal government or division of local government. Borrowers must be in good standing with their employers. Current homeowners cannot participate and applicants cannot have owned any other residential real estate for one year prior to bid submission. Applicants must agree to live in the GNND home as their only residence for three years after they move into it. Participants must certify their intention to continue their current occupation for one year. HUD reserves the right to change eligibility requirements. Law Enforcement Officers: You must be sworn to uphold and make arrests for violations of federal, state, county, or municipal law. Your employer must certify that you are a full-time officer with unlimited general powers of arrest. Law enforcement officers are restricted to the boundaries of their authority to make arrest. Municipal, county, and state agencies usually have power of arrest throughout the entire state. Therefore, they are allowed to enter any property in the state. Federal law enforcement officers are the only area UNRESTRICTED participants in the GNND program. Federal Bureau of Prisons personnel are no longer eligible. Teachers: You must be state certified and employed by a public or private school grades preK-12. Teachers are restricted to homes that are located in the area or school district serviced by their employer. Firefighters & EMTs: You are restricted to homes that are located in the area serviced by your employer. Applicants must be employed full-time and be in good standing with their employers. Reduction in purchase price.Is this program for first time buyers only? No | |||||
| Property Eligibility Requirements | |
| The sales price cannot exceed $ Variable; contact lender for maximum purchase price in your area.. Allowable property types: single family |
| Benefit Details | |||||||||
Interested applicants must go to www.goodneighbornextdoor.us and sign in to view available properties and make bids. Assistance amount is up to a 50% discount on the sales price. Participants also may apply for an FHA-insured mortgage with a down payment of only $100, and finance all closing costs and acquisition expenses.
|
|||||||||
| Please note: Every attempt is made to reflect accurate and up to date information on housing programs displayed on this site. Some inaccuracies may exist. For verification email MT Housing Resources.Source: Montana Association of Realtors (R) - MTHousingResources.com
Read more about the Home Buying Process and Resources from Access Realty |
