The HUD officer next door may be just the ticket for the law enforcement officer to get a great home at a great price.

There are quite a few attractive purchase and mortgage programs available to you.

The Officer Next Door program offers a significant discount when purchasing a HUD home. In order to participate in the program, law enforcement officers must be employed full-time in their profession, cannot own any other real estate, and agree to live in the home that they purchase for three years following the purchase. Law enforcement officers can receive a discount if the homes are purchased during a lottery period. You must be a full-time, sworn law enforcement officer who is "employed full-time by a Federal, state, county or municipal government; or a public or private college or university."

The program was designed to provide homeownership opportunities to officers who are responsible for the safety and well-being of residents in the neighborhood in which they intend to live. Its intention is to promote safe neighborhoods by enhancing the law enforcement efforts by increasing enforcement presence.

The properties eligible for the program are listed and sold exclusively online. The eligible properties are usually single family homes located in specific revitalization areas. Properties available through the program are specifically identified for the bidders. A full price bid of the list price is awarded once each week. Winning bids are randomly selected by computer and posted on the website where you made your bid.

When participating in the program, HUD will require that you sign a second mortgage and note equivalent to the amount that the home was discounted. This second mortgage carries no interest or payments provided that the three-year occupancy requirement is fulfilled.

If the home purchase is in need of repairs, you may use FHA's 203K mortgage program, allowing you to finance both the purchase and needed repairs. Homes sold through the program are generally located in revitalization areas there may be assistance from other governmental sources. Beyond the program, you should explore any additional assistance that may be available.

Need more information about HUD homes available in your area, click here.

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