Owner-occupants are individuals or families who own the property they occupy or reside in—either as a primary residence or as a secondary residence. This type of owner usually purchases a home and plans to live in it for the long-term. This can be the family's main residence or a short-term vacation home or investment property. Loans are generally easier to obtain and have lower interest rates for owner-occupants than absentee owners or investors.

HUD offers a variety of incentives and programs for owner-occupants, including the Good Neighbor Next Door (GNND) Program, which offers a 50 percent discount on HUD homes in revitalization-targeted areas. The law requires participants to commit to living in the home for at least three years, and the buyer must move into the home within 60 days of purchase. The program is exclusively for law enforcement officers, teachers, emergency medical technicians, and firefighters who work in these revitalization neighborhoods.

In addition to GNND, HUD also provides other loan programs to help owner-occupants in need. The FHA 203(k) loan, for example, helps homebuyers finance repairs and other improvements while they purchase a home. Every state and territory also has their own programs and loan options to help owner-occupants purchase a residence.

For those who can't afford the cost to purchase a home, HUD also offers the Lease-Purchase program. This program allows eligible homebuyers to rent a property for a few years, with the option to purchase it when they meet the income and credit requirements. This helps to transition renters into homeownership and avoid paying a mortgage set-up fees or a lump-sum down payment.

Owner-occupants provide a much-needed level of stability in a neighborhood and can help revitalize communities. Therefore, those looking to achieve homeownership should consider the various programs and incentives offered by HUD and their local government to get the best rates and terms available.