BSO Deputy Mortgages

Hi,

I'm hoping someone has some info for me. I'm looking to buy a house in Broward and I have heard of programs that give law enforcement officers a down payment grant. Similar to this link ---> http://www.nhmsi.com/

Many websites say talk to your local real estate professional. I've talked to three of our Broward County real estate "professionals" - and none of them had any idea or info on the program.

Has anyone used anything similar?

Thanks.

Good question. I'd like to know myself. Anybody have info?

I bought a house not that long ago and learned about this program. The program is open to LEO, fire fighters & school teachers. There is a map you can should be able to get from your mortgage broker or bank. In order to qualify for the program you need to buy a house with in the map zones.

Personally, I wasn't willing to live in the places where this program was offered.

Trust me when I tell you that you do not want to live anywhere near these places. It's the OND program and the houses are all in "revitalization areas". You cannot own a home when you are buying an OND home, and you have to live in the OND home full time for a minimum of 3 years. When you find a realtor just tell him/her that you want to buy a HUD home that is OND approved. The realtor will bid on the home you select and by 10am the next day you will know whether or not you got it. They bid on the home using the website you posted. If you see a home on there that you are interested in and it says "officer next door" your realtor can bid on it on your behalf.

Trust me when I tell you that you do not want to live anywhere near these places. It's the OND program and the houses are all in "revitalization areas". You cannot own a home when you are buying an OND home, and you have to live in the OND home full time for a minimum of 3 years. When you find a realtor just tell him/her that you want to buy a HUD home that is OND approved. The realtor will bid on the home you select and by 10am the next day you will know whether or not you got it. They bid on the home using the website you posted. If you see a home on there that you are interested in and it says "officer next door" your realtor can bid on it on your behalf.

Thanks to all of you for your input. I was somewhat afraid that there would be "zone" or mapped out area that was required purchase the home in. I'm not moving my family to the hood. So I guess I'll pass.

Thanks for your help.

Bank of America used to have a special mortgage program for police, firefighters, teachers, etc. I don't recall there being any restrictions on location....

You have to buy a house in a revitilization area which translates to a real crappy area. Most of the houses are beat down and need work. You buy the house as is. The ony good part is you can get the house very inexpensively. Its called the OND program which means Officer Next Door program. If you go on the US GOV. website and type in Officer Next Door in the search block you can find more info. Its been a while since I looked but they used to list the houses that were avaialable to be bought through the program. If you dont mind living in a not so nice area you can get a great deal on a home. Back in 2002 I almost bought a 3/2 with a two car garage and a pool for $75000. The home was located in Miramar between Unniversity drive and Douglas Rd. At the same time a mobile home opened up at a school and I bought that instead. The ROCS program through the school board is also a good deal. I think someone is selling the one at Miramar High. All you have to do is buy the mobile home and they pay for everything else except your phone. They pay electric, water, no lot rent, and they take care of the landscaping. It was a great deal for me, I was able to save a bundle. Good luck in whatever you decide.

yeahhhhhhh i just got one on sistrunk.......tyrone is my new neighbor.......i hope i make it 3 months let alone 3 years.....oh shet i want my money back

yeahhhhhhh i just got one on sistrunk.......tyrone is my new neighbor.......i hope i make it 3 months let alone 3 years.....oh shet i want my money back

They use TND for those houses (Tyrone Next Door).

DND= Deboe next door.

"I'll steal yo' $hit N!**@"

I doubt the process is worth the gains from it.
The program goes through HUD, you have to go to their local office and apply. The is a huge wait list, you have to take homeowner classes and a bunch more. Then the house you have to buy has to be within a certain area - normally not anywhere you would want to buy.
Now, if you are a first time home buyer, most cities are giving our grants. Go to the city of your choice and ask for their first time homebuyer program. Normally they give about 40k in closing cost. There are some requirements and restrictions. But check with each city. Lately, the properties you have to buy are Bank Owned Properties, as they want to reduce the empty foreclosures in their cities.
Hope this helped

I doubt the process is worth the gains from it.
The program goes through HUD, you have to go to their local office and apply. The is a huge wait list, you have to take homeowner classes and a bunch more. Then the house you have to buy has to be within a certain area - normally not anywhere you would want to buy.
Now, if you are a first time home buyer, most cities are giving our grants. Go to the city of your choice and ask for their first time homebuyer program. Normally they give about 40k in closing cost. There are some requirements and restrictions. But check with each city. Lately, the properties you have to buy are Bank Owned Properties, as they want to reduce the empty foreclosures in their cities.
Hope this helped

Only first time home-buyers who are getting a grant or loan through HUD have to take classes. There is currently no wait list for OND homes because they are on a first come first served basis.

Thanks again for the continued info.

Hi,

I'm hoping someone has some info for me. I'm looking to buy a house in Broward and I have heard of programs that give law enforcement officers a down payment grant. Similar to this link ---> http://www.nhmsi.com/

Many websites say talk to your local real estate professional. I've talked to three of our Broward County real estate "professionals" - and none of them had any idea or info on the program.

Has anyone used anything similar?

Thanks.

If IUPA is voted in they have special Mortgages for LEO's at reduced interest rates.

If IUPA is voted in they have special Mortgages for LEO's at reduced interest rates.

If the PBA gets voted in, they will buy a house for you....and protect your rights, and represent your best interest, and open up voting to all members, and lower your taxes, and pay off you car. We promise....

Signed DB, PH, and Barack.