These are fantastic times for first time home buyers. The financial crisis has pushed home values so low, interest rates low and there are all kinds of programs to assist in the purchase of a home. In just about every community, except luxury homes, it cost less to buy than to rent. Plus you get tax credits, tax deductions, you pay down your mortgage and appreciation. Below is just another program in the works to assist first time home buyers, this one is in Surprise. If you or anyone you know can take advantage of this program, call us today at 480-502-7699 or email at Jeff@thecameronteam.com
The City of Surprise is submitting an application for approximately $5 million from the federal Neighborhood Stabilization Program 2 (NSP2).
This money can be used to purchase, rehabilitate and sell foreclosed homes, and provide some home buyer assistance, in Special Planning Area 1 (SPA 1). This portion of the city was selected by the federal government, based on foreclosure levels and other criteria.
We are currently taking names to compile a wait list for a future Surprise Home Buyer’s Assistance Program, that will be funded through the federal NSP fund.
The city will use the money to buy a minimum of 100 foreclosed homes, refurbish them and then resell them to qualified home buyers.
This is an income-qualified program and includes a wide-range of income levels. For example a single person earning $53,950 a year would be eligible, as would a family of four earning $77,050 annually.
The program is offered on a first-come-first served basis and the process will take several months to complete. Interested parties are asked to call 623.222.3239 or email email@example.com for additional information.
You can review the city’s overall Neighborhood Stabilization Program by reading the 2008-2009 Substantially Amended Action Plan.
Read Title III of the Housing and Economic Recovery Act of 2008
The City of Surprise Neighborhood Stabilization Plan adheres to HUD’s regulations, which specify how the city must use the NSP funding and provides a time line for its use.
DO YOU WANT AN ADVANTAGE WHEN PURCHASING A FORECLOSURE HOME?
3 VERY IMPORTANT DATES FOR HOME BUYERS FROM NOW TO THE END OF APRIL!