Gwinnett County Georgia NSP Program

Neighborhood Stabilization Program (NSP)

About the Program

The Neighborhood Stabilization Program makes affordable housing available for purchase for eligible low-to moderate-income homebuyers.  The County utilizes NSP funds to purchase vacant foreclosed homes throughout the County, make necessary repairs on the homes, and resell these properties to income eligible homebuyers. This program does not provide foreclosure prevention assistance.

Eligibility Requirements 

In order to qualify for this program, applicants must meet the following criteria:

• Must earn below 120% of Area Median
• Must not own or will not own residential property at the time of closing
• Qualify for a 30-year fixed mortgage
• Complete an 8 hour HUD-approved homebuyer’s course

 

If you are interested in applying for this program please click here for the pre-application.

NSP Financial Assistance

Eligible applicants can receive homebuyer's assistance for the purchase of their new NSP home.  This assistance can be utilized to help with the cost of purchasing the home and be applied to the first mortgage to reduce the monthly payments. We offer financial assistance as a soft-second mortgage that is a deferred payment loan with 0% interest and now payments which reduces annually at the anniversary date of the closing.

Applicants are required to maintain the NSP home as their primary residency for a period of five or ten years depending on the amount of assistance they select.

The program currently offers the Soft-Second Mortgage in two options:

1. $14,500 for five years with no interest and no payments, reduced annually at a 20% rate.
2. $22,500 for ten years with no interest and no payments, reduced annually at a 10% rate.

If the homebuyer is unable to remain in the home for the residency requirements then the pro-rated loan amount shall be due back.

All buyers must meet certain eligibility requirements for financial assistance. To see if you qualify, visit the Qualifications page.

How to Get Started

Contact a mortgage lender or a real estate agent, who will assist you in qualifying for a loan and selecting a home. If you or your lender/agent has any questions, contact NSP at nsp@gwinnettcounty.com or (678) 518-6008.