Program Requirements

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 January 2014
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%

$42,150

$48,200

$54,200

$60,250

$65,050

$69,900

$74,700

$79,500

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:

  • Need to qualify for a mortgage loan from a participating lender - please visit our lenders' page (http://www.lenderslink)
  • May only purchase an NSP Home - please see our inventory of available homes.
  • Complete Homebuyer Education (HUD Approval)
  • Complete Financial Literacy Class at EPC

Homebuyer Assistance is not a Grant. Although you will not be required to make any monthly payments, you will need to continuously own and occupy the NSP Home as your principal residence for either 5 or 10 years, depending upon the amount of assistance you receive. Of course, you may sell the house if you choose, but if you have not fully satisfied the second lien note, EPC will "recapture" the unforgiven portion at the time of resale. (http://www.explanation)