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Homeownership Programs

Homeownership Programs. Neighborhood Stabilization Programs (NSP) Property Requirements. Property must be a vacant bank owned foreclosed property. Property must be residential single family residence in designated areas depending on program.

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Homeownership Programs

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  1. Homeownership Programs

  2. Neighborhood Stabilization Programs (NSP)Property Requirements • Property must be a vacant bank owned foreclosed property. • Property must be residential single family residence in designated areas depending on program. • The purchase price of the house must be a minimum of 1% below the appraised "as is" value. Appraisal must be no more than 60 days old prior to purchase offer. • Property must meet minimum Federal quality standards.

  3. Neighborhood Stabilization ProgramsBorrower Requirements • Must not have owned a home in the last 3 years. • Must be eligible based on income, credit polices, etc. • Must complete 8 hours of homebuyer education with an approved counseling provider. • Must contribute to closing costs.

  4. City of Tacoma NSP DPA • Property must be located in Hilltop, Eastside or South End. • Income limits can be up to 120% of median income. • Buyers must contribute between $500 and $1,500 depending on income • Up to $30,000 available assistance based on income.

  5. Homeownership Center of Tacoma (HCT) • @ Home Program • Up to $40,000 assistance depending on income. • Buyer must contribute about $1,500 toward down payment & closing. • Available only for HCT owned homes in designated areas.

  6. Pierce County Housing Programs • Offered by Pierce County Community Development Corporation. • Must purchase in Pierce County outside city limits of Tacoma & Lakewood. • PCCDC to hold 30 year fixed rate mortgages @ 3.5% interest rate. • Applications must be received by 4:30 p.m. March 12, 2010. • Applicants at 50% of AMI receive priority.

  7. Pierce County Coalition for Developmental Disabilities (PC2) • First time buyers with a household member with a developmental disability. • Income limits at 80% AMI. • Homebuyer Education & Counseling provided. • Down Payment Assistanceavailable through grants and loans from various sources. • Follow-Up and Follow-Along Services to answer your questions.

  8. For More Information • City of Tacoma www.cityoftacoma.org • Homeownership Center of Tacoma www.hcthomes.org • Pierce County Housing Programs www.piercecountywa.gov • Pierce County Coalition for Developmental Disabilities www.pc2online.org

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