The Neighborhood Stabilization Program, a program that offers down payment assistance of up to $80,000 to owner occupant buyers has adjusted their income guidelines in order to qualify for the down payment assistance.
If the buyers qualify they can get the $80,000 down payment in the form of a loan they do not need to pay off as long as they reside in the home for 15 years.
Get this, you do not even need to make any payments on this $80,000 second loan. The only payments you make are the payments on the first loan.
How do you qualify?
Buyers in Orange County, CA can now have higher incomes and still qualify for the NSP program. The new guidelines are as follows:
If 1 person is living in the home the income limit is $77,000/yr.
If 2 People living in the home the income limit is $88,680/yr (combined income)
If 3 People are living in the home the income limit is $99,720/yr (combined income)
If 4 People are living in the home the income limit is $110,760/yr (combined income)
If 5 people are living in the home the income limit is $119,640/yr. (combined income)
(call for income amounts if more than 5 people will be in the home))
The buyer has to put at least 3% down to buy the home.
Are there any NSP homes available in Orange County? YES!
One of the homes is my current listing in Aliso Viejo, CA
18 Matisse CR #89, Aliso Viejo 92656
- 2 Bed
- 2 Bath
- Overlooking Pool
- Vaulted Ceilings
- 2 Masters
- 1 car garage
- Gated Community
- 1027 Sq Ft
Seller will entertain offers between $320,000-$300,000 on this Aliso Viejo NSP home
Fantastic turnkey home available and you can get free down payment assistance if you qualify. Home offers terrific
views of the pool, Vaulted ceilings, New paint and carpet, Inside Laundry area, Fireplace in Living room, Large Master
sliding door, Patio area off living room. Close to schools and shopping. Great area! See if you qualify for free down
payment assistance. NSP Program terms apply. See supplements. Owner occupants may submit offers. Sale price may
not exceed list price.
Please call me for more details.
Jesse Madison
Madison Realty
949-306-8416
