HUD Homes Sales Incentives
For a limited time, FHA offers sales incentives on HUD homes othat will make these homes more affordable for homebuyers when purchasing a property using FHA-insured financing.  The incentives VARY from State to State but may include: low down payments; sales allowances that can be used to pay closing costs, make repairs, or pay down the mortgage amount; broker bonuses for owner-occupant sales.  The benefits of FHA financing are low down payments; competitive interest rates; flexible credit qualifying.  To find a HUD-Approved Lender, follow the link on the HUD Home Store webpage.

Atlanta Homeownership Center – (Effective on bids submitted on or after 12/01/2011)
A broker bonus is being offered in eight market areas:  Georgia, Florida, Mississippi, Alabama, Illinois, Indiana, Tennessee, and Kentucky.  The following conditions must be met in order for the selling broker to receive the applicable broker bonus.

• The preliminary bid must be submitted on or after December 1, 2011.
• A loan commitment letter from a lending institution must be received with the signed Sales Contract if the purchase is to be mortgaged; or, if paying cash, a certification letter must be received from a financial institution stating sufficient funds are available to complete the purchase.
• The words “Broker Bonus” must be written or typed at the top of the signed Sales Contract.
• The selling broker must complete and sign the HUD Notification regarding the broker bonus sales initiative.
• For all properties that close up to 34 days of contract acceptance, the selling broker will be eligible for a $600 bonus*.
• For all properties that close within 35 to 39 days of contract acceptance, the selling broker will be eligible for a $450 bonus*.
• For all properties that close within 40 to 43 days of contract acceptance, the selling broker will be eligible for a $300 bonus*.
• *Exclusions apply*Excludes: Hard-to-sell properties. The selling broker will not be eligible to receive a bonus for any property advertised by the Asset Manager (AM) as hard-to-sell. “Properties eligible for $1,250 commission for listing and selling broker,” are considered Hard to Sell andnot eligible for the broker bonus. Prior to placing a bid, any property deemed hard to sell has a blue icon with a dollar sign in a bubble. Below is a visual of the indicator that is reflected on all hard to sell properties on the Hudhomestore.

Note: The Atlanta Homeownership Center will not consider any appeals submitted by the selling broker for properties that fail to close within the aforementioned timeframes. No exceptions.  In order for your contract to be eligible for the broker bonus you must have all applicable bonus forms and commitments submitted correctly at time of contract execution.  No exceptions.

Denver Homeownership Center – Areas 1D & 2D  (Effective 10/20/2011)
Owner-Occupant Sales Incentive – $100 Down restrictions applied*.  The Denver HOC announced that all offers accepted after today, 10/19/11 the $100 down payment sales incentive for the Denver HOC has been approved for the next 12 months.  *The requirements for the incentives are: owner occupant utilizing FHA-insured financing and offering full current list price.

10/19/2011 – Sales Incentives (subject to change without notice)Visit www.hudhomestore.com for the latest sales incentives in your area
Sales Incentive	Participating States
$100 Down Payment! Available to Owner Occupant Homebuyers when purchasing a property using FHA-insured financing.	Atlanta HOC – Contract Areas 1A and 2AIllinois, Indiana, Kentucky, Tennessee, S. Carolina,N. Carolina, Georgia, Mississippi, Alabama, Florida, Puerto Rico, Virgin Islands
$100 Down Payment!  Applies to all offers accepted after 10/19/2011 for a one-year period and is available to Owner Occupant Homebuyers utilizing FHA-insured financing and offering full current list price only.   Selling Brokers:  The loan amount cannot exceed the appraised value; therefore, a sufficient amount needed to cover upfront MIP must be included on line 5 of the sales contract or the buyer will have to pay that amount out of pocket at closing.  The $100 Down Payment must be reflected on line 4 of the sales contract.	Denver HOC – Contract Areas 1D and 2DColorado, Utah, New Mexico, Texas, Kansas, Missouri, Oklahoma, Arkansas, Louisiana

 
Good Neighborhood Next Door (GNND)
For Law enforcement officers, pre-Kindergarten through 12th grade teachers and firefighters/emergency medical technicians.  HUD offers a substantial incentive in the form of a discount of 50% from the list price of the home. In return you must commit to live in the property for 36 months as your sole residence. When a law enforcement officer, teacher, firefighter, or emergency medical technician chooses to use an FHA- insured mortgage, the down payment is $100. Eligible Single Family homes located in revitalization areas are listed exclusively for sales through the Good Neighbor Next Door Sales program.  GNND buyers can bid in lottery, exclusive, and extended phases, but can bid exclusively on insured single unit homes in revitalization areas in the lottery phase. GNND buyers are given preference over government agencies and nonprofits in the selection of a bid-winner in the lottery phase.   Search for available properties at www.hudhomestore.com, enter State and Buyer Type: Good Neighbor Next Door.  View Q & As

$1 Homes Sales For Local Governments
HUD’s Dollar Homes initiative helps local governments to foster housing opportunities for low to moderate income families and address specific community needs by offering them the opportunity to purchase qualified HUD-owned homes for $1 each. Please read HUD’s most recent notice on H2011-16 for more information. Search for available properties at HUDhomestore.com, enter State and Buyer Type is Government Agency.

Nonprofit Organizations
Eligible nonprofit organizations, can bid on homes in lottery, exclusive, and extended phases provided they are in approved purchase areas. If the property is in the lottery phase, the home must be uninsured. Nonprofits rank below Government Agencies in the bid selection process for the lottery, but above them for exclusive and extended listings. Nonprofits cannot bid for dollar homes.  Nonprofit organizations that want to obtain HUD approval to participate as a FHA mortgagor, purchase HUD homes at a discount, or administer a Secondary Financing/ Down payment Assistance Program must submit an email directly to their local Homeownership Center (HOC), Program Support Division, indicating that your organization would like to apply for approval to participate in FHA Nonprofit activities. Search for available properties at www.hudhomestore.com, enter State and Buyer Type: Nonprofit.

FHA’s “First Look” Sales Program Neighborhood Stabilization Program
For  Governmental Entities, Nonprofit Organizations, and Sub-recipients that have received a HUD-issued Name and Address Identification Number (NAID) are eligible to participate in the First Look Sales Method.  The National First Look Program is a first-ever public-private partnership agreement between HUD and the National Community Stabilization Trust (Stabilization Trust). In collaboration with national servicers, Fannie Mae, and Freddie Mac, the First Look program is intended to give communities participating in HUD’s Neighborhood Stabilization Program (NSP)a brief exclusive opportunity to purchase bank-owned properties in certain neighborhoods so these homes can either be rehabilitated, rented, resold or demolished. Information will be available here soon.

Facilitating the FHA “First Look” Sales Method Under M&M III  Information will be available here soon.

NSP Resource Exchange Website:  www.hudnsphelp.info