NSP Lease-Purchase Toolkit

Lease-Purchase tools are intended for grantees and their partners developing and operating programs to assist low- to moderate-income homebuyers in purchasing a home by allowing them to lease a home with an option to buy.

Find By Implementation Step

Program Setup

Toolkit resources categorized in the Program Setup phase are intended for use in the planning and program design phase of NSP projects. Resources include sample policies and procedures, program manuals, checklists, and sample agreements.

Policies and Procedures

Sample NSP Short-Term Lease-Purchase Program Policies and Procedures Checklist

Checklist to review policies and procedures for lease-purchase programs

Date Published: January 2013

Example of NSP Policies and Procedures Manual for Short-Term Lease Purchase Programs

Example of a policies and procedures manual used by a short-term lease-purchase program in Ohio

Date Published: September 2010

Sample NSP Short-Term Lease-Purchase Program Policies and Procedures Manual

Adaptable policies and procedures manual for lease-purchase programs

Date Published: July 2010

Residential Lease with Option to Purchase

Example of a Residential Lease with Option to Purchase for NSP

Example of a residential lease between a developer and lease-purchaser

Date Published: September 2010

Sample NSP Residential Lease with Option to Purchase

Adaptable sample agreement for use between developers and lease-purchasers

Date Published: July 2010

Sample NSP Residential Lease with Option to Purchase, Annotated

Annotated version of an adaptable sample agreement for use between developers and lease-purchasers

Date Published: July 2010

Sample Developer Agreement Template

Sample Agreement Between an NSP Grantee and Developer for Development and Lease-Purchase Operations for Single-Family Homes

Template for preparing an agreement between a grantee and developer to use NSP funds in development and lease-purchase operations for single-family homes

Date Published: August 2010

Acquisition of Properties

Toolkit resources categorized in the Acquisition of Properties phase are intended for use by grantees and their partners who are using NSP funds to acquire property. Resources deal with such issues as property research, URA compliance, tenant protection and relocation, environmental review and more.

General Guidance on Property Acquisition

NSP Property Acquisition Guide

Guide to complying with NSP requirements related to property acquisition

Date Published: September 2010

Sample NSP Property Acquisition File Checklist

Index of documents to be included in a paper file for a property being acquired under NSP

Date Published: September 2010

Underwriting, Financing, and Long-Term Affordability

Toolkit resources categorized in the Underwriting, Financing and Long-Term Affordability phase are intended for grantees and their partners who have acquired property and are financing their NSP project. Resources deal with such issues as applying for financing, pricing NSP homes to comply with NSP requirements, evaluating project feasibility, and more.

Interim Financing Guide

Guide to Using Interim Financing for NSP Activities

Short guide to help grantees understand and implement interim financing in their local neighborhood stabilization programs

Date Published: March 2012

Sample Budget Format

Sample NSP Lease-Purchase Pro Forma

Template for preparing budgets for development, operations, and sale

Date Published: July 2010

Underwriting Criteria

Guidance on Qualification Criteria for Short-Term Lease-Purchase NSP Programs

List of possible criteria to use in evaluating a lease-purchaser's readiness to purchase and be mortgage-ready within the lease term

Date Published: August 2010

Rehabilitation and Construction Management

Toolkit resources categorized in the Rehabilitation and Construction Management phase are intended for use by grantees and their partners who have acquired property and financed their NSP projects, and are building or rehabilitating units. Resources deal with inspection and rehabilitation and include information on green specifications.

Green Building Techniques

NSP Green Housing Development Guide

Guide for incorporating cost-effective green building standards into single-family housing development or rehabilitation programs

Date Published: August 2010

Property and Occupancy Management

Toolkit resources categorized in the Property and Occupancy Management phase are intended for use by grantees and their partners who are carrying out day-to-day operations of the buildings and units developed with NSP funds. Resources deal with such issues as maintenance programs, rental management, income qualification, and more.

Income Qualification Tools

Guide to Completing NSP Income Certifications

Sample procedures for calculating household income to determine eligibility for NSP housing assistance

Date Published: March 2016

Property Management for Rental Projects

NSP Sample Rental Housing Property Management Agreement

Agreement between property owner and management company for management company to operate a rent- and income-restricted rental housing property as an agent of the property owner

Date Published: September 2010

NSP Sample Scattered-Site Rental Housing Management Document Set

Document set for managing scattered-site rental housing projects -- includes management agreement, rental application form, lease, house rules, homeownership plan, home visit form, and job descriptions for staff positions

Date Published: September 2010

Program Administration

Toolkit resources categorized in the Program Administration phase are intended for use by grantees and their partners who are managing the activities carried out under NSP. Resources deal with project and financial management issues, and include sample checklists and activity logs.

Tracking Project Data

NSP Property Development Activity Log

Spreadsheet for subrecipients and developers to track NSP project data for their own data management purposes and to transmit to the NSP grantee

Date Published: August 2010

NSP Site and Rehabilitation Approval Request Form

Spreadsheet for tracking crucial information on property acquisitions

Date Published: August 2010