In order to further motivate individuals to purchase HUD homes, the agency provides certain incentives to home buyers. Some of the grants, vouchers and buyers programs that HUD offers include:
- Housing Choice Voucher Program (Section 8): Enables low-income families to afford homeownership by providing a recurring subsidy that assists them in making their monthly mortgage payments.
- One Dollar Program: Allows low- or moderate-income families to purchase HUD homes – which have been on the market for over 6 months – for only $1.
- Good Neighbor Next Door Program: Helps public servants, like teachers, police officers, firefighters and emergency medical technicians, afford homeownership by providing them with 50% off the purchasing price of homes located in revitalization areas.
- Non-Profit Program: Permits community and religious not-for-profit organizations to buy HUD homes for 30% off, so they can fix them up and resell them to first-time home buyers and financially strapped families.
- HUD $100 Down Program: Makes homeownership possible for owner-occupant buyers by forgoing the typical 3.5% requirement and allowing them to make a down payment of just $100.