The Gwinnett County Board of Commissioners is trying to assist individuals and families in obtaining affordable housing in Gwinnett. Neighborhood Stabilization Programs (NSP) have been around for a while, but this program that is specific to Gwinnett is new and short term. The program is funded by the US Department of Housing and Urban Development (HUD) with additional NSP funds coming through the Georgia Department of Community Affairs (DCA). Downpayment and closing cost assistance is available. Each NSP homebuyer is offered a second mortgage of $22,500 with no interest and no payments. For homebuyers who live in the house 15 years the loan will be forgiven. What a deal!!

Through NSP, foreclosed homes have been purchased, updated, and improved to provide excellent homes. Depending on the condition of the home, new carpet, heating and cooling systems, updated kitchens and baths, exterior and interior painting, new landscaping, and use of energy-saving materials are just some of the improvements being made. You will get a high quality home that will pass inspections and meet mortgage standards.

To qualify, you must fall into one of the three categories below:

• A first-time homebuyer (have not owned a home in the last three years.) or
• Be employed by a government unit or educational or healthcare provider, or
• Be a surviving spouse of a military serviceperson or a public protector,  or
• A single parent

In addition you must:

• Qualify for a 30 year, fixed-rate mortgage,  and
• Complete an eight hour HUD-approved homebuyers course,  and
• Invest one percent of hte purchase price towards buying the home,  and
• Occupy the home as your principal residence,  and
• Meet the income limits below

Homes receiving NSP assistance are located throughout Gwinnett County. However, the areas that have been targeted are those that have a high number of foreclosures. This map will show you where the NSP homes are located within Gwinnett County.

If you or someone you know qualifies for this program, contact me today to learn more about the program and review qualifying homes.