The Neighborhood Stabilization Program (NSP) is back for selected areas in both Redmond and La Pine, Oregon. The NSP allows a buyer after going through a specific program a second loan on the purchase of a bank owned home.
In short the NSP program can give you the ability to finance about 99% of the purchase price of your new home. There of course are specific guidelines but for the right buyer this is an awesome opportunity to have about 20% more buying power.
If you can answer yes to following questions calling or emailing for information on the NSP could be beneficial to you!
- Low to Middle Class income
- Verifiable Income
- Willing to Buy a Bank Owned Property
- 1% of the purchase price for a down payment
- About $1500 for costs associated with buying your home
- Be willing to attend a financing class (1 day class)
I you can say yes to each of the above, and are looking to purchase in Redmond Oregon or La Pine Oregon and a bank owned home would work for you – talking to me about an NSP loan program should be the top of your priority list.
Only some agents and some lenders are qualified to work with this program!
The easy overview of this program is (there are more specifics)
- 20% or up to $35,000 can be borrowed for the purchase of your home.
- 0% interest on this portion of the loan
- 0 payment during the life of the loan
- no pre-payment penalty
- when you sell or refinance you do pay the original loan off
This Home is in The La Pine NSP Area and is Bank Owned