NSP Neighborhood Stabilization Program

NSP Neighborhood Stabilization Program

The Neighborhood Stabilization Program (NSP)  provides grants to all states and selected local governments to assist in stabilizing communities most affected by foreclosures and vacancies.  It is a federal block grant from HUD run through the Community Development Block Grant Program.

  • Minimum discount of 1% from appraisal of contract price, resale agreement within affordability period
  • Property must be Foreclosed or Vacant
  • You do NOT have to be a 1st time home buyer
  • To be used for 1/2 of required down payment, closing costs, and prepaids, possibly rehab
  • Single Family only
  • Forgivable period determined by amount of assistance. If sold, refinanced or no longer is primary residence during affordability period the loan has to be repaid at a prorated amount. 5 year affordability period loans less than $15,000, 10 year affordability period for loans $15,000-$40,000 and 15 year affordability period for $40,000 or more

Hennepin County Homebuyer Assistance Loan and REHAB Loan of up to $30,000 in assistance

Funds expended for Brooklyn Park, Crystal, and Richfield

Anoka County NSP remodeled homes for sale http://ww2.anokacounty.us/v3_cd/home-buyers/homes-for-sale.aspx

Anoka NSP Insentive Fund Program

  • Forgiven in the 11th year of living in the home
  • $10,000 0% interest deferred loan

Elk River



Monticello and Otsego


  • $12,500 0% deferred forgivable loan with up to $15,000 needs based to bring the front end ratio to 28%
  • Up to $30,000 0% deferred forgivable loan for necessary rehab
    down payment closing costs, rehab
  • Targeted Elligible Areashttp://www.cmhp.net/documents/Buffalozoningmap.pdf

Ramsey County Opening Doors

Contact us today.

Ben Coulter

Minnesota First Time Home Buyer Down Payment Assistance Program

Serving Mankato, North Mankato, Northfield, Minneapolis, St. Paul, Brainerd, St. Cloud, Rochester, Duluth and all other cities in Minnesota.