Neighborhood Stabilization Program (NSP)

Category: Homebuyer / Foreclosure

Overview

The NSP program allows for the acquisition of foreclosed and/or vacated homes. The home will then be rehabilitated up to state standards. Once completed, the home will then be resold to a low to moderate income individual or family. The NSP program also allows for down payment assistance and subsidy if needed.

Benefits

• Allows individuals/families to purchase a home when they thought it would be impossible.
• Homes have been inspected and have been brought to good health and safety standards.
• Purchasing these homes will keep neighborhoods safe .
• Home does not become a blighted property.
   

Eligibility Requirements

NSP funds are currently available in the following communities until all funds have been allocated:

• Region 3 – City of Fostoria, City of Fremont, Ottawa County, Sandusky County, Seneca County, City of Tiffin
• Region 4 – City of Norwalk
• Region 7 – Allen County, City of Findlay, Hancock County, Putnam County
   

Eligible Counties

Allen, Hancock, Huron, Ottawa, Putnam, Sandusky, Seneca

Income Guidelines

	Household Size
County	1	2	3	4	5	6	7	8
Sandusky	$48,650	$55,600	$62,550	$69,500	$75,050	$80,600	$86,150	$91,700
Ottawa	$51,900	$59,350	$66,750	$74,150	$80,100	$86,050	$91,950	$97,900
Seneca	$47,050	$53,750	$60,500	$67,200	$72,600	$77,950	$83,350	$88,700
Huron	$48,450	$55,400	$62,300	$69,250	$74,800	$80,300	$85,850	$91,400
Allen	$47,800	$54,600	$61,450	$68,300	$73,750	$79,200	$84,650	$90,150
Putnam	$54,950	$62,800	$70,650	$78,500	$84,750	$91,050	$97,300	$103,600
Hancock	$52,650	$60,200	$67,700	$75,250	$81,250	$87,300	$93,300	$99,300

Income level cannot exceed the stated income guidelines

Contact Information

Rob Grimm (Rehabilitation Specialist)