Next Door Programs® was designed to increase home ownership among teachers, nurses, law enforcement and other public servants, support community development and increase access to affordable housing free from discrimination. The program is intended to eliminate confusion by streamlining the home loan and home buying process and by matching the individual with the best program available, based upon the specific needs of the program participant and their family. Your Next Door Programs agent will help you locate the perfect home and negotiate the lowest price possible. Our team will handle all the purchase, finance and closing paperwork for you.
For home purchases, there are many different federal, state, and local programs available to Next Door Program® participants, including the HUD Good Neighbor Next Door Program, the State Housing Initiative Program (SHIP), Keystone Challenge Fund, USDA Rural Program, and other specific programs available through HUD, FHA, VA, USDA, Fannie Mae, and other local agencies. In addition, Next Door Program offers private money GRANTS and may be combined with our matrix of other national and state specific programs, such as Arizona Home in Five, California CalPlus, Colorado FirstStep, Iowa IFA Plus Grant, Nevada NHD Home Possible, Ohio OHFA You Choice, Texas SETH 5-Star Advantage, CBC Chenoa Fund and over thirty other programs. Programs vary by city and state. Your Certified Next Door Program Specialist will help you determine what you qualify for, and which programs may be combined.
NO. Grants available directly through Next Door Programs® and the other programs we utilize, do not ever have to be repaid. Grants are subject to availability.
YES. In addition to our grant programs, we have down payment assistance of up to $10,681.00. These programs are available in all 50 states and may include, Home in Five Advantage, Home Plus, Georgia Dream, Golden State Platinum, Florida First, Military Heroes, First Home, Chenoa and Unison, just to name a few. Your Next Door Program Specialist is trained in all the various programs and will explain your eligibility. Programs are each structured differently and eligibility varies by city and state.
Over the years Next Door Programs® has expanded to include many public service professionals. These include police officers, firefighters, nurses and medical professionals, government workers and others. We are committed to serving those who serve us in the communities where we all live and work. For a complete list of programs CLICK HERE.
NO. You may purchase ANY home on the market, in ANY neighborhood, if it is within the guidelines of your loan approval.
Absolutely nothing! One of the best parts of the Next Door Programs® is that it is zero cost to home buyers. You can use our specialists, grants, and down payment assistance completely FREE.
NO. (Except for one or two down payment assistance programs that require a three or five year commitment.)
Once approved, one of our licensed Realtors® will work with you to help find a home in your area. We will let you tour the inside of the homes, negotiate the purchase contract, and handle all the paperwork for you.
Your licensed Certified Program Specialist will help place you in the appropriate program and guide you through the process based upon your individual circumstance including credit, down payment (if any) and the location of property.
NO. Next Door Programs® will never pull your credit or have access to your personal financial information. When you click APPLY NOW and complete the short Pre-Application, you will be contacted by a Program Specialist who will go over the program with you, answer any questions and discuss your options, including any GRANTS and down payment assistance you may be eligible for. Your credit would then be pulled during the mortgage application process.
With Next Door Programs' Simple Docs™, many times we can access all or most of your documentation online (with your permission), thereby eliminating the need for you to collect many of the loan documents typically required, including pay stubs, W-2's, tax returns and bank statements. Simple Docs™ is not available in all areas. With each application, we only collect the documents required by law.
Our First Time Home Buyers Program allows buyers the unique opportunity to combine GRANTS and down payment assistance with the other programs we have available, including Fannie Mae's HomeReady, Freddie Mac's HomePossible and HomeOne programs. Down payment assistance programs may include state specific programs such as Arizona Home in Five, Georgia Dream, Florida First and others or may include national programs such as Chenoa and Unison, depending on which has the greater benefit. To be eligible, you must be a teacher or school employee, nurse or healthcare worker, law enforcement, firefighter, or government employee. For more information CLICK HERE.
NO. If you own a home or have owned a home in the past three years, you may still take advantage of all Next Door Programs® and benefits except for the HUD Good Neighbor Program, which prohibits you from owning any property for 3 years prior to placing a bid.
This program is currently available to teachers, police officers, firefighters and EMT's through HUD's Good Neighbor Next Door Program. These properties are located in certain revitalization areas and available via a lottery style bid. There are some restrictions, including a three year occupancy requirement. Your Next Door Programs® representative can provide additional details and check availability in your area. For more info on the Good Neighbor Next Door Program CLICK HERE.
NO. Only the HUD "Good Neighbor Next Door" homes.
NO. You are NOT required to take a 4-hour or 8-hour HUD First Time Home Buyers class. Next Door Programs® does not require any classroom home buyer counseling to utilize the program.
YES (Possibly). But there are some restrictions for some of the zero down programs. The most common of which is the area in which the home is located. If a zero down loan is not available, the typical minimum out of pocket expense is approximately three to three and a half percent (3 – 3.5%) of the purchase price. This typically includes down payment and other fees such as insurance, appraisal etc. This may come in the form of a gift or 401(k) disbursement. Your licensed Program Specialist can explain additional options.
YES. You may put down any amount you like. If you put 20% or more down, you will typically be able to avoid PMI and you may qualify for a lower interest rate.
NO. However, you must make enough to cover the payment. Also, some local down payment assistance programs may have a maximum income you may earn to qualify.
YES. Next Door Programs Simple Docs Refinance™ is available. You may use this program to take cash-out, lower your payment, shorten your loan term, remove mortgage insurance, or just improve your financial stability.
YES. "Streamline Refinance" as well as the Federal HARP refinance programs may be available, which could assist you if you are under water on your current mortgage.
YES. Next Door Programs Simple Docs Refinance™ has a no closing cost option available.
No Problem. If you own a home, you may still take advantage of all Next Door Programs® and benefits except for the HUD Good Neighbor Program, which prohibits you from owning any property for 3 years prior to placing a bid.
We accept all applications, regardless of the loan amounts. Our Preferred Lenders are required to offer loans down to the individual state minimums, which in most cases is $10,001.00. However, lenders must also meet all other regulations and some lower loan amounts may not meet these regulations, due to individual borrower and loan characteristics.
There is no maximum loan amount. In many states, the maximum conforming loan amount is $647,200.00. This number is higher in other states. Our preferred lenders also offer Jumbo Loans. Please discuss specific loan amount questions with your Program Specialist.
NO. Financing for Next Door Programs® is provided by our preferred direct lenders and select U.S. National Banks. Next Door Programs® does not collect, store, or have access to your personal financial information and does not receive compensation from mortgage loan transactions. When you complete the online pre-application, you will be contacted by a licensed Program Specialist from our preferred lender who is knowledgeable in all the programs available to you, including the Next Door Programs® Grant and various down payment assistance and other programs.
Since Next Door Programs® is not a lender, we do not set interest rates. Our preferred lenders have agreed to provide you with an extremely competitive rate for your loan based, upon your individual loan application and loan program. Your interest rate will be adjusted by the Federal underwriting guidelines based upon risk factors, as well as compensating factors.
As with insurance, underwriter guidelines contain upward adjustments to the interest rate based upon risk factors. These may include low credit score, high loan-to-value, first time home buyer, no rental history, short time on the job, etc.
Whenever possible, underwriters use compensation factors to counter other risk factors to help keep the rate low. These may include, high credit score, long time on the job, recent college grad, good rental history, large down payment, etc.
NO. Next Door Programs® preferred lenders must adhere to Federal conforming guidelines. They do not offer sub-prime loans.
NO. Next Door Programs® is the largest National Home Buying Program in the United States, and administered by Teacher Next Door, PLLC. (License No. FLCQ1044110) You may purchase any home on the market through the program, not just HUD owned homes. It is an independent, private organization, licensed Real Estate Brokerage and registered with the U.S. Department of Housing and Urban Development to sell HUD homes and represent buyers in the purchase of HUD owned homes. (HUD License No. NAID-TCHRNX832)
YES. Since our Agent Partners agree to contribute a portion of their commission towards your closing cost, to receive the full benefit of the program, you need to be exclusively represented by a Next Door Programs® agent. Our Agent Partners are all highly trained, state licensed professionals and members of the National Association of Realtors®. Upon loan approval, we will assign one of our knowledgeable agents in your local area who will work directly with you to find the right home and handle all the paperwork. If you decide to use a non-Next Door Programs® agent, you may not receive the agent rebate, as they are not required to contribute any of their commission.