Orange County NSP stands for Neighborhood Stabilization Program. The program is designed to help purchase foreclosure properties that might need some rehabilitation and sell them to home buyers using state funds. These homes are then eligible for grant funds from the county to go towards the home buyers down payment. They fall in the same guidelines as the Orange County SHIP.
The program has two options to increase the number of homes for sale in Orange County made available to those buyers needing Down Payment Assistance.
Option A:
These homes will be purchased by the Orange County Government in their designated areas. They will then rehab the homes bringing them up to todays standards and partnered with Progress Energy to bring you Energy Efficient Homes. Then those buyers who are eligible and are represented by a Realtor can purchase one of these properties and receive:
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- Up to $35,000 in Down Payment Assistance
- And All buyers closing costs paid for by Orange County (excluding prepaids)
Option B:
Your Realtor helps you identify homes for sale in Orange Counties designated areas. Coordinate the purchase of the property using the NSP funds and 203k rehab funds so you can have the home renovated. A Buyer who utilizies this program will receive:
- Up to $35,000 in Down Payment Assistance
- And all buyers closing costs paid for by Orange County (excluding prepaids)
Two great programs to help home buyers get into a home. Buyer does not have to be a first time home buyer but cannot currently own a home when using this program.
It's important to have a Realtor who has attended one of Orange Counties NSP training programs. Contact me today if you are interested in purchasing a home for sale in Orange county under the NSP down payment assistance program.
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Heather,
Thanks for sharing this info. I'll keep in mind for any clients interested in Orange County, FL