 |
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Firefighters
can get a 50% Discount on the Purchase Price
of a Home
For Example: if the home is appraised at $200,000.00
you can purchase it for $100,000.00.
The full price must be offered at first and the discount is applied at the
Close of Escrow.
The
law
firefighters
are encouraged to purchase a home in the community and/or in the approved
targeted area or revitalized areas in which they serve.
| What is coverd under the Fire Fighters: |
| You must be a Firefighter or someone who works for the: |
| federal government, |
| a state government, or |
| a unit of general local government, or |
| an Indian tribal government serving the area where the home is located. |
|
|
Qualifying
For An Firefighter Loan:
| HUD Requirements for You - the Fire Fighters / Purchaser: |
| You must have been in your profession for 2 Years Full-Time, and |
| Commit to live in the home for at least 36 Months = 3 Years. |
| The home must be owner occupied and your sole or only residence |
| The home must be located in a revitalized area within the district that you work in. |
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.
| Very Important Financing Information for Fire Fighters: |
| All properties purchases must be done by a HUD approved Agent / Broker |
| The HUD approved agent provides the request for available financing for the program, |
| The Financing provides purchasers with a Silent Second for the purchase. |
| The purchaser must be pre-approved before purchasing the property. |
You Must Be
Officially Pre-Approved Before Purchase:
| HUD Requirements for Agents / Brokers: |
| This is How You Obtain Access to a available Property: |
| 1. You have to have a Licensed Agent / Broker - |
| 2. The Licensed Agent / Broker must already be approved by HUD - and we are. |
| 3. The Licensed Agent / Broker has access to the properties that are available in your district, |
| 4. The Licensed Agent / Broker must be sure that you a pre-approved before making a bid. |
| 5. The Licensed Agent / Broker must receive a 'Earnest Money Deposit' before a bid is made. |
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6. The Licensed Agent / Broker is the one who makes the purchase bid in your favor to HUD. |
| 7. The Licensed Agent / Broker makes the bid for the full price and is discounted 1/2 price at closing. |