Buying a foreclosed home within the city of Phoenix has its advantages!
The city of Phoenix Neighborhood Stabilization Program(NSP) offers a homeownership assistance program providing $15,000 for down payment and closing cost assistance. The program targets foreclosed single-family homes, townhomes and condominiums (condominium conversions are not eligible) that meet HUD Housing Quality Standards (HQS).
Eligible buyers must be FHA creditworthy and have completed the NSP-required eight-hour Homeownership Education Class and Credit/Budget Assessment counseling course. Buyers must maintain the property as their principal residence and the total household income must be below 120 percent of area median income. For example, a household of four earning $79,100 or less has the potential to become eligible to participate. Program participants must contribute a minimum of $1,000 of personal funds for down payment or closing costs.
To learn more about this exciting opportunity, plan to attend one of these events:
Date |
Event |
Location |
April 28 6-7:30 p.m. |
Informational Session for Homebuyers |
Washington Activity Center 2240 W. Citrus Way Phoenix, AZ 85015 |
April 29 6-7:30 p.m. |
Informational Session for Homebuyers |
South Mountain Community Center 212 E. Alta Vista Road Phoenix, AZ 85040 |
Funds are still available.
Contact 602-262-6602 or nsphome@phoenix.gov for more information.
Program details also can be found by visiting phoenix.gov/nsphome
480-652-2004