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Neighborhood Stabilization
Program The NSP program is jointly-sponsored with
the City of Westminster. The NSP program provides up to $40,000 in down payment assistance in the form a silent loan
that requires no payment for 30 years. The loan carries 0.00% interest charges and there is no-shared appreciation requirement.
To qualify for the NSP program, the following is required: - The home purchase MUST be a bank-owned (REO) property. That is, the seller must the financial institution
that completed the foreclosure. The home can not be a regular sale, short-sale or any type of pre-foreclosure property.
- The home must be located in an eligible census tracts
in the cities of Garden Grove or Westminster. The list of eligilbe census tracts is included in the NSP
Program Fact Sheet which you can download by clicking on the link below. You can look up the census tract
for a particular address by clicking here: Address to Census Tract Converter
- The applicant can not currently own a home (but
does not have to a "first-time home buyer").
- The
household income of the applicant must fall within program's income guidelines. Download the NSP Program Fact
Sheet below for the latest income eligiblity information.
- The buyer must qualify for a conventional or FHA first mortgage and contribute at least one percent (1%) of the home
purchase price from their own funds.
- The home purchased must
be habitable immediately (major "fixers" will not qualify).
Click Here to Download NSP Program Fact Sheet
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