What is NSP?

 

The Neighborhood Stabilization Program (NSP) was established for the purpose of stabilizing communities that have suffered from foreclosures and abandonment. Through the purchase and redevelopment of foreclosed and abandoned homes and residential properties, the goal of the program is being realized. NSP1, a term that references the NSP funds authorized under Division B, Title III of the Housing and Economic Recovery Act (HERA) of 2008, provides grants to all states and selected local governments on a formula basis.

NSP2, a term that references the NSP funds authorized under the American Recovery and Reinvestment Act (the Recovery Act) of 2009, provides grants to states, local governments, nonprofits and a consortium of nonprofit entities on a competitive basis. The Recovery Act also authorized HUD to establish NSP-TA, a $50 million allocation made available to national and local technical assistance providers to support NSP grantees.

NSP3, a term that references the NSP funds authorized under the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) of 2010, provides a third round of neighborhood stabilization grants to all states and select governments on a formula basis.

What is DeKalb NSP?
DeKalb NSP is a website developed to inform DeKalb County residents and potential home buyers about the Synergy Real Estate NSP projects, as well as provide a general overview of the Neighborhood Stabilization Program in DeKalb County areas.

In order to clearly communicate our efforts and streamline the flow of information to potential home buyers, the DeKalb NSP website was launched. The site offers information about the Synergy Real Estate NSP Team, how we can help you navigate your way to an NSP home, and:

  • Current NSP homes available for purchase and those in the pipeline of our NSP Developers

  • NSP qualification guidelines and what loan options might be available to you

  • Guidelines to identify other federal, state and local programs that can be combined with NSP to make your home purchase even more affordable

We hope you find the DeKalb NSP website helpful as you look towards your goal of home ownership.

Am I Eligible for NSP Properties?
To find out if you qualify for NSP properties, just ask yourself these two questions:
1.  Do I currently own a home or investment property?
2.  Does my income fall at or below these annual income guidelines?

Family Size

Annual Income

Single, 1 person

$55,800

Family of 2

$63,720

Family of 3

$71,640

Family of 4

$79,560

Family of 5

$86,040

If you do not currently own real estate and if your income falls within the guidelines above, then you may qualify for the Neighborhood Stabilization Program. Contact Synergy Real Estate NSP now for more information.

How Does the Process Work?
It's easy to follow the steps to home ownership with the help of the Synergy Real Estate NSP Team:

Below you will find detailed information about each program.  Lenders & Realtors may also find the following documents useful:

Summary of REAL Affiliated NSP Programs

REAL P&S NSP Second Mortgage Loan Documents

Location

Assistance Amount

Additional Info

Atlanta
City of Atlanta NSP Page

Up to $20,000
More


Program Overview &
Frequently Asked Questions

 

DeKalb County
DeKalb County NSP Page

22% of purchase price up to $25,000;
includes $4,000 towards closing costs
More

Program Overview &
Frequently Asked Questions

Homebuyer Workshop
 



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