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When something sounds too good to be true, it usually is. Not with HUD. HUD’s Good Neighbor Next Door (GNND) program allows certain professionals the ability to purchase a home for ½ off! When you buy a home using the GNND program, 50% of the price of the home is financed as a second trust or mortgage.
Dinner out, or a new home…you make the call!
Closing costs cover various expenses such as the fees your lender charges for providing your loan. Closing costs typically add up to 3-4 percent of the price of your home. When you buy an HUD Home, these costs may be picked up by HUD.
“Wait, you’re telling me I can buy a home and get PAID $2,500?”
FHA offers a program called a 203k which allows you to buy a fixer- upper and roll the construction labor and material costs into your loan. You can buy a home that needs up to $35,000 in repairs and wrap the costs over 30 years.
