NSP Homeownership Assistance funds are available for down payment and closing cost assistance for eligible buyers. The NSP Homeownership Assistance Program provides a $15,000 loan for down payment and closing cost assistance for buyers of foreclosed homes anywhere in the city of Phoenix. The full amount of the loan is paid back to the city when the buyer sells the home or refinances. All loans are forgivable after a period of time based on the amount of the loan. All loans are zero percent interest with no monthly payment. Homes must meet HUD Housing Quality Standards.
Determining Eligibility:
- Eligible families can earn up to 120% of the area median income- Find Area Median Income Data
- Be FHA creditworthy
- Complete 8 hour Homeownership Education and Credit Counseling
- Property must be maintained as primary residence
Contact me to learn more about the Neighborhood Stabilization Program. The program is also available in Scottsdale, Mesa and Chandler, however, the guidelines are different.
Free money is real and available. Take advantage of it!
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