Teacher Next Door Program?

[Adam Laurenzo]

Does anyone have experience with the Teacher Next Door Program? (Not the same as GNND)

I'm wondering if I might use it to house hack in my area, or even to invest out of state. Would love to chat with someone knowledgeable.

[Stephanie Medellin]

I just visited the link you posted (didn't see it before).  

At the bottom of this page (https://www.teachernextdoor.us/License.040315) you'll see a disclosure that basically sums it up.  It looks like it's just a Realtor referral program, where the real estate agent agrees to give you a rebate toward closing costs from their commission.

They make it sound very official by saying that they're registered with HUD to sell HUD homes, but I'm also registered with HUD to sell HUD homes - a lot of real estate agents and brokers are. You have to be registered to place a bid on Hudhomestore.com. So it doesn't look like they are in any way affiliated with the HUD program, they just took the name and used it for marketing.

Also, you don't need a specific lender to be able to get closing cost credits from your lender.  Any lender can give you a higher rate in exchange for a closing cost credit on many loan scenarios.  

Disclosures: Teacher Next Door, PLLC (TND) is registered with the U.S. Department of Housing and Urban Development to sell HUD homes and represent buyers in the purchase of HUD owned homes. Teacher Next Door is a National Home Buying Program and private organization and is not a government agency. TND is not a lender, has no corporate affiliation with the above preferred lenders and receives no compensation in connection with any mortgage loans. TND does not sell leads or information and does not collect or store buyer's financial information. TND direct Grants are funded by participating Realtor® Partners. TND may also provide information on non-exclusive government grant and down payment assistance programs, where available. Programs vary by state and all grant, down payment assistance and savings amounts are estimates. You must be represented at closing by a Teacher Next Door Realtor® Partner to receive the Realtor® rebate portion of the TND grant. Realtor® rebates are not available in AK, KS, LA, MS. Benefits received may be affected by home price, for sale by owner properties (FSBO’s), new construction or other factors. You must work with a TND preferred lender to receive additional benefits.