You may qualify for the NSP program if:
1. Your household income is within those listed in the chart below
2. The borrowers in your household can qualify for a mortgage from a Participating Lender
3. You can meet certain up-front costs.
HUD HOUSEHOLD INCOME GUIDELINES - El PASO COUNTY, TEXAS
Effective December 1, 2011
published by the U.S. Department of H.U.D.
These income guidelines are subject to change
|
# IN HOUSEHOLD | ||||||||
|
AMFI |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
|
<120% |
$41,400 |
$47,350 |
$53,250 |
$59,150 |
$63,900 |
$68,650 |
$73,350 |
$78,100 |
Note: Household income cannot exceed the amounts listed above per size of family.
Below are some additional guidelines that must be met to qualify for the NSP Program:
· Must have stable, documented income
· Must be U.S. citizens or a permanent legal residents
· Must obtain a mortgage loan from a Participating Lender (each lender uses different credit scores, but your credit and your debt will be taken into consideration)
· Must contribute 50% of the required down payment (amount varies depending on sales price, and lender requirements)
· Must purchase a home offered for sale by the Neighborhood Stabilization Program