Good Neighborhood Next Door Program

The City of Houston (City) Housing and Community Development Department (HCDD) has designed the Good Neighbor Next Door Program (GNND) to provide financial assistance to low-to-moderate income homebuyers who are in the Houston Hope areas or any area/neighborhood designated by the Mayor of Houston for revitalization.

	HCDD staff will administer the GNND according to the policy and procedures set forth in the administrative guidelines. (add link to Administrative Guidelines)
	Funding for GNND will be available through the HOME Investment Partnerships (HOME) Program and the American Dream Down Payment Initiative (ADDI)
	GNND will provide direct financial assistance to offset portions of the down payment, closing costs, pre-paid items and principal required for home purchase.

Eligibility Requirements

Please read the information below to help you determine if you are a qualified applicant for the program:

	The applicant must demonstrate the ability to obtain a mortgage loan (financial, credit worthiness, etc.)
	The family’s combined income must be at or below 80% of the area median income
	The applicant must complete at least eight (8) hours of homebuyer education from any participating HUD-approved Housing Counseling Agency (updated 5.26.2009)
	The sales price for the property cannot exceed the Single Family Mortgage Limits under Section 203(b) of the National Housing Act.
	The applicant must purchase a new or existing home. The following structures are approved for

GNND:

Single-family property (detached and attached 1-4 units)

Condominium unit/Townhouse

Modular home/Manufactured home

Cooperative unit

	The property must be located in Houston Hope areas or any area/neighborhood designated by the Mayor of Houston for revitalization. Click here for eligible locations.
	HCDD Inspection Services Section is required to conduct an independent physical inspection on the property. Despite the HCDD’s inspector completing a physical inspection of the property, it is highly encouraged that the potential homebuyer gets his/her own TREC inspection
	The applicant must invest at least $500 into the home buying transaction (i.e. earnest money, appraisal, etc.)
	The family must have $1,000 but not more than $35,000 in liquid assets (including retirement accounts)
	The applicant must live in the home for 10 years for assistance to be forgiven Funding Requirements
	The amount of assistance is $39,900 for teachers, police officers, firemen, and EMS personnel whose income is at or below 80% of the area median income
	The amount of the assistance is $37,500 for all other families whose income is at 80% or below the area median income Applicant(s) combined annual household income must be at or below the amounts listed in the Household Income Limits to qualify for GNND funds.

Eligibility Requirements

	The amount of assistance is $39,900 for teachers, police officers, firemen, and EMS personnel whose income is at or below 80% of the area median income
	The amount of the assistance is $37,500 for all other families whose income is at 80% or below the area median income

City of Houston