Down Payment Assistance Gwinnett County GA
If you’re like most buyers, any help is welcome help! Down Payment Assistance Gwinnett County GA has almost gone away, but not completely. It’s advisable to have a savvy loan officer to walk you through these steps, but in lieu of that, searching the county’s website can be a big help.
Today I want to talk about the NSP or Neighborhood Stabilization Program for Gwinnett County residents. Those that want to live in Lawrenceville homes, Buford homes, Duluth, Dacula, Suwanee and even Norcross should pay close attention.
Each of the Down Payment Assistance Gwinnett County GA programs have a set of rules and the NSP or Neighborhood Stabilization Program is no different. The NSP is a down payment assistance program designed just for 1st Time Home Buyers
Low, moderate, and middle income homebuyers may be eligible to purchase the NSP homes and receive $22,500 in financial assistance. To qualify as a homebuyer, you must not currently own residential property, including rental housing or vacation home.
In addition, you must:
- Qualify for a 30-year, fixed-rate FHA first mortgage
- Complete an eight-hour HUD-approved homebuyers course, and
- Invest one percent of the purchase price towards buying the home, and
- Occupy the home as your principal residence, and
and .. Meet the income limits below:
Household Size
Maximum Household Income From All Persons In the Household*
- $57,350
- $65,550
- $73,750
- $81,950
- $88,500
- $95,050
There are instances where you can make more than $100K, but as you can see, you might have to get a little “busy” in order to qualify. =)
Finally, there are only CERTAIN homes to choose from. Now any real estate agent or Realtor can help you with this, but you can only choose from these homes.
Author: Joshua Jarvis
I love technology and working with it and using it to help my real estate clients get the best deal on homes for sale. After graduating from Georgia Tech, I jumped into real estate after the dot com bust. I found that working with people and using technology to help them was fun! I formed a team which includes my wife and the Jarvis Team now serves most of north metro Atlanta.
[...] Down Payment Assistance is usually the most over used terminology for as a First Time Home Buyer Program. The truth is that that the Down Payment Assistance is available to all who qualify. In local cases, this means income requirements and requirements of you (as the home buyer) to buy in a certain location. [...]