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Officers
of the Law are encouraged to Purchase
a Home in the Community
in which They Serve and/or
in a Revitalized and/or a
Targeted Area!
THOSE
QUALIFIED:
THE
OFFICER'S LOAN PROGRAM:
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A
OFFICER who works for: |
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The
Federal Government, |
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The
State Government, or |
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A
unit of general local government, or |
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An
Indian tribal government |
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PERSONAL
QUALIFICATIONS:
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1.
A Full-Time Employee for 2-Years |
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2.
Live in the home for at least 3-Years |
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3.
It must be your Primary Residence |
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4.
The home must be in a Revitalized Area and within the District
that you work in. |
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This
home and loan product is identical to the Next Door Loan Program - for
qualified professions,
the homes can be located in designated revitalization areas or in any
qualifying area in the county for the loan products.
PROPERTY
QUALIFICATIONS:
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1.
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You
must agree to live in the home for 36-Months or 3-Years, |
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2.
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It
must be your Primary Residence, |
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3.
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The
home must be in a Targeted Area, |
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4.
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The Location of your new home and the District that you work
in - must be one in the same. |
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MORTGAGES
ON THE PROPERTY:
HUD
APPROVED AGENT'S ARE TRAINED TO:
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1.
Approve you for your Loan Product |
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2.
Approve you for your Home Purchase |
The
Housing and Urban Development Department has strict rules as to
who qualifies for the Loan Products and their Home Purchases. All
prospective buyers must be officially pre-approved (by a HUD Approved
Agent), before making a bid or purchase on a property.
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HUD APPROVED
AGENT'S CAN:
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Access
to the properties that are available For Sale in your district, |
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Get
your Official Pre-Approval before the Bid! |
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Is
Permitted to Accept the 'Earnest Money Deposit' for the Property.
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Is
Permitted to make the Purchase Bid on your Behalf to HUD. |
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Can
make the Bid for the Full Amount, and accept Purchase Discounts
from HUD. |
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