Neighborhood Stabilization Program (NSP) - Purchase Information
NSP Home Buying Opportunity
Fulfilling the American Dream
NSP Available Homes
Benefits of Homeownership
- Pride of achieving the American Dream
- No more rent - build your own equity
- Create your own environment
What is an NSP Home?
The City of Palm Bay Housing and Neighborhood Development Services Division (HANDS) submitted a request to the U.S. department of Housing and Urban Development (HUD) under Title III of Division B of the Housing and Economic recovery Act of 2008, to undertake a project known as the Neighborhood Stabilization Acquisition and Rehabilitation Program. Under this program, they City has acquired approximately 45 foreclosed homes. We have renovated many of them and are now making them available for purchase.
Why Purchase a NSP Home?
These homes have been remodeled. Bringing them back to living condition.
Where replacement of equipment has been preformed energy efficiently standards have been utilized.
Every home is discounted for quick sale.
Requirements to Purchase a Home
Buyer(s) must be able to obtain a primary mortgage.
Buyer(s) must complete an 8-hour HUD approved homebuyer education class.
Buyer(s) must use the home as a primary residence.
Buyer(s) will be required to execute a City of Palm Bay Second Mortgage at closing.
Household Income must not exceed 120% of the Area Median Income (AMI) .
Additional Purchase Information