$22,500 Financial Assistance Is Available to Purchase an NSP Home
Applications are now being accepted for the Gwinnett County Neighborhood Stabilization Program (NSP), for individuals and families purchasing specific homes in
This program is funded by the U.S. Department of Housing and Urban Development (HUD) and through the Georgia Department of Community Development (DCA) and is administered by the Gwinnett County Community Development Program.
HOW CAN THIS PROGRAM ASSIST YOU?
The Neighborhood Stabilization Program provides loans of $22,500 at 0% interest to qualifying homebuyers who purchase NSP homes in
WHO IS ELIGIBLE?
· All homebuyers who do not currently own residential property including vacation and rental properties,
· Meet the income limits below:
HUD sets maximum income limits for qualifying homebuyers. These are based on your household size, and are shown below:
HOW DO I APPLY?
A. Determine if you can qualify for a home loan. Contact a loan officer of a lending institution to see if you qualify for a 30 year fixed rate FHA loan. Be sure the lender can provide FHA loans.
· Obtain a pre-approval letter from a lending institution. You will need this later
· Obtain copies of your credit scores from the three credit bureaus on the credit bureau’s letterhead. The lending institution can provide you with these. You will need these later.
B. Select a NSP house using a
C. Complete and sign the attached Pre-application Check List on the next page. Do not include the documents listed with your initial submittal.
D. Submit the following information to the NSP office with a letter stating your interest in obtaining NSP assistance.
1. Copy of the pre-approval loan letter from the lender as stated in “A” above.
2. Copies of the credit scores as stated in “A” above.
3. Copy of an executed Purchase and Sales Agreement on your selected home.
4. Your signed Pre-application Check List as stated in “C” above. Do not include the documents with your initial submittal.
5. Your contact information, including present address, phone number(s), e-mail address.
Deliver the material above to the NSP office using one of the following methods:
· Mail: Gwinnett NSP,
· Personal Delivery: Gwinnett NSP,
· Fax: 770-822-5195 – Attention: NSP.
· e-mail: Scan and attach the documents to a single e-mail and send it to email@example.com
Once the information is received and reviewed, you will be contacted to establish a time for formal application with the NSP staff to determine your income eligibility. The application will take place at the NSP office in Lawrenceville. At this time you will be expected to bring with you all the material collected in “C” above.
E. VERY IMPORTANT Complete an Eight Hour (8) Pre-Purchase Mortgage Counseling Class from a HUD approved housing counseling agency. Obtain a Certificate of Class Completion stating this was an 8-hour class and provide the NSP office the certificate at least two weeks before the final purchase of the house.
· The IMPACT! Group. Their web site is: www.theimpactgroup.org. Go to
· The Center for Pan Asian Community Services. Their web site is www.cpacs.org. Go to Housing Programs. The phone number is: (770) 936-0969. They are located at 3760 Park Avenue,
For a complete list of HUD approved housing counseling agencies, go to: http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm?webListAction=search&searchstate=ga
FORMAL APPLICATION INFORMATION575 Old Norcross Road
An application will be taken to verify your income and assets to determine income eligibility to participate in the NSP program. At the time of application you will be required to supply the following items. Please have copies to leave with us.
THE NSP PROGRAM IS BASED ON TOTAL HOUSEHOLD INCOME, SO THE SAME IDENTIFICATION AND FINANCIAL DOCUMENTATION WILL BE REQUIRED FOR EACH PERSON IN THE HOUSEHOLD WITH INCOME EVEN IF THEY ARE NOT PARTIES TO THE LOAN.
Applications will not be taken if all documentation is not supplied at time of appointment.
Information is needed from all persons over 18 year of age in the household. (Eligibility is based on household income.)
Ø Please provide copies of all social security cards, including children.
Ø If a permanent resident card or employment verification card is submitted we need a clear copy of this document - back and front. Often sections of the copied card are unreadable. Please write the unreadable parts of the card on the same piece of paper to which you copied the card. We especially need the category and the nine digit imprinted number on the back of card.
Ø If you are a naturalized citizen, we request a copy of this certificate of citizenship.
Name, address, contact person, e-mail address and fax number for each employer for verification of employment.
Proof of income for each adult (18 and over) household occupant (including tenants - examples
of proof of income are: SSI benefits statement, current Social Security award letter, current pension or disability statement), child support, divorce decrees, self-employment.
Paycheck Stubs [most recent 8 weeks]
Federal Tax Returns [previous 3 years}
Checking Account Statements [most recent six months] for each checking account and for each household member age 18 and over.
Savings Account Statement [most recent one month]
Other asset documentation (real estate, pensions, 401K, collections [jewelry, art, coins, etc.], stocks). A statement within last 90 days is needed for each asset for each person age 18 and over.
Any bankruptcies must have been discharged for at least two years. If a bankruptcy discharge has taken place, please submit a copy of the discharge document at the time of application.
PLEASE CALL , DAWN P. GOBER 770-831-4495
IF I HAVE FURTHER QUESTIONS, WHOM DO I CONTACT?
Doris Tarver, Program Specialist E-mail: firstname.lastname@example.org
Bill Kingsbury, NSP Director E-mail: email@example.com
575 Old Norcross Road, Suite C