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Teacher
Next Door Program
The
Teacher Next Door is a new program
established by HUD that offers single-family houses,
townhouses and condominiums for sale to teachers at a 50 percent
discount in specially designated revitalization areas.
Teachers
can purchase HUD homes at 50 percent off of the list
price in HUD designated revitalization neighborhoods (see
below). These are neighborhoods receiving targeted public and
private sector assistance that offer significant opportunities
for local economic growth. To make properties even more
affordable, HUD will reduce the down payment to just $100 if a
teacher purchases a new home with an FHA-insured mortgage.
Homes
must be located in the school district in which the teacher is
employed. Homes offered for sale were previously insured
through HUD’s Federal Housing Administration (FHA) and then
foreclosed on.
Teachers
must live in their new home as their sole residence for at
least three years after its purchase.
For
more information about this program in Arizona, call us at
(602) 993-7509.
To
receive a free copy of the Arizona HUD homes list, click
here.
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