Neighborhood Stabilization Program
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Contact: Amy Brumelow - Director, Planning and Zoning
8700 Hospital Drive - first floor, Development Services, Douglas County Courthouse
Douglasville, Georgia 30134
Phone: 770.920.7241
- Fax: 770.920.7356
planning@co.douglas.ga.us
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About the Program
The Neighborhood Stabilization Program (NSP) was established for the purpose of stabilizing communities that have been severly impacted by foreclosures and abandonment.
Program StructureThe Douglas County NSP down payment assistance program provides funding to eligible homebuyers for purchase of a previously foreclosed property owned by ANDP (Atlanta Neighborhood Development Partnership). Funding will be used to pay up to $4,000 towards closing costs, down payment and principal reduction associated with the purchase of a home.
Who Qualifies?The Douglas County NSP Program is open to anyone who qualifies for a mortgage with an approved lender, and also meets program qualifications for the soft second mortgage. Households can earn up to 120% of Area Median Income (AMI).
1-person household: $57,480 maximum income
2-person household: $65,640 maximum income
3-person household: $73,800 maximum income
4-person household: $81,960 maximum income
5-person household: $88,560 maximum income
6-person household: $95,160 maximum income
Amount of Assistance Available,br>The Douglas County NSP provides up to 25% of the purchase price in forgivable zero percent second mortgage, which includes up to $4,000 towards closing costs.
If your total household income is at or below 50% of AMI (see above chart), you can receive 25% of the purchase price of the home in assistance (up to $25,000).
If your total household income is from 51-120% of AMI (see above chart), you can receive 25% of the purchase price (up to $25,000).
Eligible Properties
Previously foreclosed Douglas County homes purchased and rehabilitated by ANDP. Homes included are listed on-line at www.ANDPHomes.org.
How to Begin the Process
- Attend an ANDP-approved homebuying seminar
- Contact one of ANDP's participating lenders to get pre-qualified and secure a first mortgage loan
- Find an eligible property
- Have your lender complete the loan application and forward the required documents to ANDP for the Douglas County NSP funding
www.ANDPHomes.org
Real estate professionals, lenders and buyers alike will find a wealth of information on ANDP's web site created just for the NSP - www.andphomes.org. On the site you will find:
- dates, times and locations of approved homebuying seminars and general information sessions
List of participating lenders
- Simple "Start the Process" docments for buyers
- Available homes that qualify for the program and much more
ANDP homes is a program of the:
Atlanta Neighborhood Development Partnership, Inc.
235 Peachtree Street, NE, Suite 2000
Atlanta, GA 30303
404.522.2637
Housing Hotline (4040 420-1600
www.andphomes.org
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Douglas County Home
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