Neighborhood Stabilization Program 2 (NSP2)

Eligibility Guidelines for NSP2 Program Applicants

• Must be legal residents of the United States
• Must not have had a short sale or foreclosure in the past three years
• All bankruptcies must be discharged for three years & there must be new credit established
• May not currently own any other residential property (in or outside of Florida)
• Property being purchased must be your primary residence and may not be rented once you have purchased.
• Must be employed and have sufficient income depending on household size. $17,000 would be the minimum annual income for a single-person household.
• Income must be from a reliable source such as: disability, pension, job, self-employment, alimony or child support and must continue for a minimum of three years.
• Household income cannot, in any case, exceed 120% of the Area Median Income for the applicant’s household size.
• If currently renting, he/she must be able to prove via canceled checks, money orders or through a management company that he/she has paid rent on time. For those with credit scores under 580, 24 months is needed; those with “better” credit, 12-18 months is needed. Cash rent is not acceptable—nor are cash receipts for rent.