NSP FAQ
Q

How should NSP grantees select eligible homebuyers?

Date Published: February 2013

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A

To be eligible for NSP funds, a homebuyer must:      

  • Demonstrate income eligibility (household income at or below 120% AMI),     
  • Agree to occupy the residence as their principal residency,    
  • Demonstrate ability to pay the mortgage and maintain the home,
  • Complete eight hours of housing counseling by a HUD certified counseling agency.  

Grantees must affirmatively market the program so prospective homebuyers have the opportunity to apply for assistance. The selection process must be transparent, documented, equitable and compliant with Fair Housing laws. The NSP Policy Alert Homeownership Assistance Guidance provides additional guidance on selecting qualified purchasers.


Tags: NSP Homebuyer Assistance Programs - Homebuyer Program Design and Implementation

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FAQ ID:

1179