“Good Neighbor Next Door” Program Available at Fairway Mortgage in Charlotte

Fairway Independent Mortgage of Charlotte is excited to announce that of the many loan programs available to residents, we offer the Good Neighbor Next Door Program. We are particularly excited about the Good Neighbor program because it is designed for men and women serving as law enforcement officers, pre-K-12 grade educators in the Charlotte Mecklenburg school system and other local area schools, firefighters, and emergency medical technicians—all people who are key pillars of our community.

Those eligible for the Good Neighbor program will have the opportunity to purchase special HUD homes at 50% of the list price! Residents agree to live in single-unit housing for 36 months, and in return, there are no interest payments on the discounted portion of the home. Participants simply sign a Second Mortgage and Note for the discounted portion. Available mortgage financing options include FHA, VA and conventional mortgages.

HUD homes are located in revitalization areas, listed exclusively through the Good Neighbor program. After three years, residents become the full owner of the equity in their homes, and are free to sell while keeping any accumulated financial appreciation! This program extends to all people in these fields, even those who have previously purchased a home.

One of our loan officers, Allen Duckworth, is also a firefighter and has seen this program do tremendous things for the folks he works with. He says, “The Good Neighbor Program is unique because it allows hardworking civil servants to be able to build equity very quickly in a home they can afford. While the program itself is not well known, there are incredible benefits for Charlotte area teachers as well as police officers, firemen and EMTs. I love being able to introduce people I work with to this program because I come from an EMT and fire background. Folks want good, strong neighbors in their neighborhood and that’s really what this program is all about.”

The goal behind HUD’s Good Neighbor Mortgage Program is to strengthen and enrich neighborhoods by offering discounted housing to leaders within the community. These are values Fairway hopes to continue to align with, as we strive to help residents of the Carolinas find homeowner success. Find homes in the Charlotte area by clicking here.

To learn more about the Good Neighbor Next Door Mortgage program, speak to any of our knowledgeable and professional loan officers at Fairway. Or, you can visit U.S. Department of Housing and Urban Development to learn more general information. We are always happy to answer any questions you may have about this or any loan program. Call us today!

Click here to see Allen and a homeowner discuss this loan on WCNC.

 

 

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