Good Neighbor

Law Enforcement Officers, Pre-Kindergarten through 12th grade Teachers, Firefighters and Emergency Medical Technicians can contribute to community revitalization while becoming homeowners through HUD's Good Neighbor Next Door program. HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return, borrowers must commit to live in the property for 3 years as their sole residence.

 

Program Details

  • 30 year fixed and 15 year fixed loan terms
  • Minimum $100 down
  • Closing costs may be financed

How a borrower participates in the Good Neighbor Next Door Program

  • The borrower checks the listings for their particular state/area:
  • The borrower follows HUD's instructions to submit their interest in purchasing a specific home.
  • Borrowers must offer the exact HUD list price when bidding on any GNND property. They will then receive a 50 percent discount off of that list price.
  • If more than one person submits on a single home, a selection will be made by random lottery.
  • A sales contract is accepted by HUD.
  • The sales contract must indicate "Good Neighbor Next Door" to obtain the $100 down payment feature.
  • HUD requires that the borrowers sign a second mortgage note for the property discount amount. No interest payments are required on this "silent second" provided that they fulfill the three-year occupancy agreement.

 

Get Today's Rates  

 

Download our FHA Good Neighbor Guidelines 

 

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Account Executives
Beth Reno breno@pcmloan.com 925.858.5668
Carol Commiskey ccommiskey@pcmloan.com 925.997.5575 
Cassie Quinn cquinn@pcmloan.com 408.506.3749
Chip Mamiya cmamiya@pcmloan.com 310.722.8733   
Conrad Tan ctan@pcmloan.com 408.334.9836  
Greg Woolsey gwoolsey@pcmloan.com 805.732.5258
Holly Chase hchase@pcmloan.com 949.683.9002
Kristen Jerger kjerger@pcmloan.com 760.602.9555   
Lisa Lariccia llariccia@pcmloan.com 619.754.5874
Lynne Gonzales lgonzales@pcmloan.com 949.338.5390 
Phil Aguillon   paguillon@pcmloan.com    408.701.7714  
Reina Martinez rmartinez@pcmloan.com 626.590.0246

 

VP/ Regional Sales Manager
Terri Buckman   tbuckman@pcmloan.com  925.822.5931

 

RVP/Regional Manager
Shelley Thurlow  sthurlow@pcmloan.com   925.822.5287
 

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