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You are here: Home > Departments > Community Services > Housing And Community Development > Community Development Block Grant > Neighborhood Stabilization Program Properties
 Neighborhood Stabilization Program Properties
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What is the Neighborhood Stabilization Program?
The Neighborhood Stabilization Program (NSP) was created by the Housing and Economic Recovery Act of 2008 to respond to rising residential foreclosures and property abandonment.  The main purpose of the NSP is to stabilize neighborhoods negatively impacted by foreclosures.  Lake County, with our Community Base Organizations (CBO’s) will use NSP funds to acquire, renovate, and sell foreclosed homes at affordable prices to eligible families.

What areas qualify under the NSP?
According to statistical reports in the rise of foreclosures, HUD selected the highest geographical areas to participate in the NSP program for home purchase and mortgage assistance.    These targeted areas were the hardest hit by foreclosures as follows:  Clermont-34711, Leesburg-34748 and 34788, Eustis-32726 and 32736.

How do I qualify to purchase a home under the NSP?

  • Buyer cannot currently own a home, must be a first-time homebuyer
  • Buyer must be able to obtain mortgage financing
  • Buyer must complete a 8 hour homebuyer’s education class and obtain a certificate
  • Buyer must be able to pay the required down payment
  • Buyer must meet the following income guideline:
Household Size Very Low Income Low Income Moderate Income
1 $21,250 $34,000 $51,000
2 $24,300 $38,850 $58,320
3 $27,300 $43,700 $65,520
4 $30,350 $48,550 $72,840
5 $32,800 $52,450 $78,720
6 $35,200 $56,300 $84,480
7 $37,650 $60,200 $90,360
8 $40,050 $64,100 $96,120

For more information, please contact Jackie Smith with Homes in Partnership at (407) 886-2451.

Available Properties

No homes are currently available for purchase.

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