Teacher Next Door Program

Joining Hands to Make America Stronger

The Teacher Next Door Program is open to any person employed full-time by a public school, private school, or federal, state, county, or municipal education agency as a state-certified classroom teacher or administrator in grades K-12. Teachers must be employed by an educational agency that serves the school district in which the home they are purchasing is located.

The U. S. Department of Housing and Urban Development (HUD) wants to make American communities stronger. The Teacher Next Door program is designed to further this goal by encouraging teachers tobuy homes in low and moderate-income neighborhoods.

Am I Eligible?

You, as a teacher, must be in good standing with your employer, and your employer must certify that you are a full-time teacher or school administrator. You don't have to be a first-time homebuyer to participate, but you may not own another home at the time you close on your Teacher Next Door home. You must agree to live in the HUD home as your only residence for 3-years after you move into it.

Where is the Homes List?

Teacher Next Door property is listed and sold exclusively over the internet. Properties are single-family homes located in Revitalization Areas. Properties available through the program are marked with a special Teacher Next Door button. Bids are awarded once each week, selected by the computer. Your bid must be the amount of the list price. You must submit your bid through a registered HUD broker.

Goldman & Klein partners with Affinity-Financial, a Better Business Bureau approved registered HUD broker. We will submit your bid every week until we get you a home. On winning the bid, we will provide you with either an FHA loan or a 203(k) loan.

How do I benefit?

The winning Teacher Next Door bidder is able to purchase the property at a 50 percent discount from the list price. For example, if a HUD home is listed for $100,000, a teacher can buy it for $50,000. To make a HUD home even more affordable, you can apply for an FHA-insured mortgage with a downpayment of only $100 and you may finance all closing costs. In all cases, HUD requires that you sign a second mortgage and note for the discount amount. No interest or payments are required on this "silent second" provided you fulfill the three-year occupancy period.

If the home you want to purchase needs repairs, you may use FHA's 203(k) mortgage program. This program allows you to finance both the purchase of the home and the cost of needed repairs. You have the benefit of one loan for both costs and one monthly payment.

Because homes sold through the Teacher Next Door program are located in Revitalization Areas there may be additional assistance from state or local government sources. Local or state governments want to encourage families and businesses to move into Revitalization Area neighborhoods. Goldman & Klein is here to help with your real estate needs.

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Goldman & Klein's offices are located at 10650 Treena St., Suite 103, San Diego, CA 92131. We value your privacy and we will never sell your information to third parties. We will honor the trust you have placed in us. We are committed to earning and maintaining your confidence. Please feel free to contact one of our management team with questions, and if you wish to send us an e-mail, please contact us here.