Douglas County
DOUGLAS COUNTY
NEIGHBORHOOD STABILIZATION PROGRAM
FREQUENTLY ASKED QUESTIONS
About the Program
The U.S. Department of Housing and Urban Development’s (HUD) Neighborhood Stabilization Program (NSP) provides emergency assistance to state and local governments to acquire and redevelop foreclosed properties that might otherwise become sources of abandonment and blight within their communities.
Douglas County has received $3.8 million in Neighborhood Stabilization Funds from Georgia Department of Community Affairs to acquire foreclosed residential real estate. After purchase and improvement, the properties will be sold to buyers who are eligible to participate in the Neighborhood Stabilization Program.
The Neighborhood Stabilization Program will help individuals and families realize the dream of homeownership. Buyers may receive NSP funding in the form of a deferred second mortgage to assist with down payment and closing cost assisted with the purchase of the NSP home.
Q. How do I know if I meet the income qualifications?
A. Your total household income based on family size must be less than the incomes listed
on the following chart:
Family Size Maximum Household Income
1 $60,250
2 $68,850
3 $77.450
4 $86,050
5 $92,900
6 $99,800
7 $106,700
Q. What are the other eligibility qualifications?
A. In order to be eligible, the buyers must:
1. Be a U.S. citizen, qualified alien or a non-immigrant.
2. Qualify for a mortgage for the purchase of the home and provide the required documentation necessary to meet the NSP program requirements and obtain mortgage loan approval from an approved lender.
4. Obtain a certificate of completion of 6 hour homebuyer education course and 2 hour one-on-one housing counseling from a HUD approved housing counseling agency.
5. Secure an executed real estate contract with ANDP on the property to be purchased.
6. Contribute a minimum of $500 of your own funds toward purchase of the home.
7. Purchase and occupy the NSP home as your primary residence.
Q. How much assistance is the NSP program providing?
A. The amount of assistance will vary by income level.
Q. Is this a grant or a loan?
A. The assistance provided by the NSP program is in the form of a 0% interest deferred loan. A deferred loan means that you will not have to make payments on the assistance provided by the County. You will not be required to pay the loan back as long as the property remains your primary residence and there is no change in title or ownership during the term of the deferred loan.
Q. Can I participate in this program if I own a home?
A. Homebuyers seeking to purchase a NSP home in Douglas County may not own any other residential real estate at the time they close on the purchase of the NSP home. Evidence of transfer of title and/or sale of the property to another party will be required prior to loan closing. Additionally, the applicant must occupy the NSP financed property as his or her primary residence within 60 days of closing.
Q. Can I select a home and present it for participation in this program?
A. No, all homes will be selected by ANDP and placed on an available properties list.
Q. Can I select my own real estate agent to assist me with the purchase of a NSP home?
A. Yes.
Q. I am working with a loan officer that is not on your Lender list. Can I receive NSP assistance through them or do I need to switch to one that is on the list?
A. Lenders who are interested in providing financing for homebuyers seeking to participate in the NSP program must be approved by ANDP. Lenders must submit documentation to ANDP for review and approval to be included on the participating lender list. If the lender is not approved, the homebuyer must use a lender listed on the participating lender list.
Q. Where are the available homes located and how can I view a list of the inventory?
A. Homes available in this program will be located throughout the county and a list will be posted on the ANDP website () as they become available.
Q. Are “short sale” properties eligible for NSP assistance?
A. No. Only properties completely through the foreclosure process and owned by the bank or lender are eligible.
Q. Can the buyer get their own inspection on the home?
A. Yes. The buyer is advised to obtain their own independent inspection prior to purchasing any property. Inspections conducted by ANDP are for the limited purpose of complying with the requirements of the NSP program and should not be relied on by the buyer for any other purpose.
Q. Do I need good credit to participate in this program?
A. Credit will be reviewed by the mortgage lenders. Approved lenders are using specific underwriting criteria to determine whether you qualify for a mortgage. The NSP program requires that you must obtain a pre-qualification or pre-approval letter from an approved lender in order to submit a purchase contract for a NSP home.
Q. Can I use the Georgia Dream Homeownership program if I am also using the NSP program.
A. Yes. However, you must use a Georgia Dream participating lender who also participates in the NSP program. You can consult the Georgia Dream Homeownership Program website at dca.state.ga.us for complete details.
Q. Can a homebuyer use other assistance programs with the NSP Programs?
A. Possibly. We will allow the NSP funds to be layered with other programs. However, not all programs allow layering of assistance. You or your lender should check with the program administrator to confirm with them if they allow layering. Your lender will also need to be sure they can layer the funds with whatever type of first mortgage you are getting from them.
Q. What benefits are available to the buyer?
A. Buyers will benefit in the following ways:
1. “Move-in” ready home
2. A zero percent second mortgage loan for principal reduction, down payment assistance and/or closing costs for the purchase of the home. The NSP second mortgage loan is due in full upon sale, transfer, or when home is no longer owner occupied.
3. Not just for first-time homebuyers
4. May also be eligible for $8,000 federal tax credit*
Q. If I meet the eligibility qualifications, what do I do to participate in the program?
A. It is as easy as 1, 2, and 3!
1. Complete homebuyer education training and one on one housing counseling and obtain your certificate of completion.
2. Apply for mortgage loan pre-qualification from an approved lender and provide the required information as requested by the lender and the NSP program.
3. Obtain the list of available homes, select a home, get a copy of the NSP Purchase Agreement Addendum from our website and give it to your real estate agent to assist you with the submittal of your purchase contract and close on your home. (The Addendum has to be attached to all purchase agreements.)
Q. How do I get additional information on this program?
A. Visit the Atlanta Neighborhood Development Partnership website at for updates and more information. You may also contact the contact Christie Cade at 404-420-1606.
* Restrictions Apply. Please check for more information.
Neighborhood Stabilization Program
Applicant Checklist
The following information has been complied for your convenience. However, please note that additional information may be requested by the lender. Please take this information to the lender in order to expedite the processing of your mortgage loan.
|( |Action |
| |Complete Homebuyer Education Class and Housing Counseling. Provide the completion certificate to loan officer prior to loan |
| |closing. |
| |Gather the following support documentation for applicant(s) and household members: |
| |Bank statements covering the most current monthly period for all accounts, for all applicants. |
| |Letter of explanation regarding any non-payroll deposits over $300 that are shown on your bank statements. |
| |Consecutive pay stubs for the most recent month for each full-time and part-time job for all applicants |
| |Signed copy of the last 3 years federal income tax returns for all applicants OR computer printouts of IRS 1040 or 1040EZ or IRS |
| |telefile tax record (call 1-800-829-1040 for tax return transcripts) AND most current years W2”s |
| |If child support (debt or income), provide a copy of the divorce decree or child support agreement or other documentation of |
| |payments |
| |Most recent proof of social security, VA, disability, unemployment, retirement, and/or other benefits documentation for all |
| |applicants, if applicable |
| |Contact name and address of landlords for the last 3 years for all applicants, if applicable |
| |Contact names, address, phone number and fax numbers for all current full time and part time employers for all applicants |
| |Verification of Social Security Number and driver’s license for all applicants |
| |If not a US citizen, provide documentation of eligibility to work |
| |Provide information regarding all assets and current liabilities, i.e. credit card payments, loan payments, retirement accounts, |
| |savings accounts, etc. |
| |All non-applicants (household members over 18 years of age or older not on the title to the property) must provide a current pay |
| |stub or documentation of other source of income (if applicable) |
| |All non-applicants will be required to sign the Non-Applicant form at the time of application |
| | The lender will require additional forms to be completed at the time of application for all applicants. |
For more information regarding the Neighborhood Stabilization Program, please visit our website at or call us at 404-522-2637.
Douglas County
Neighborhood Stabilization Program
Potential Buyer Questionnaire
Thank you for your interest in the Neighborhood Stabilization Program. The first step is to complete the questionnaire below and submit it the ANDP office.
|1. |How did you hear about the program? |__________________ |
|2. |Are you a U.S. Citizen, Qualified Alien or Non-Immigrant? |______Yes _____No |
|3. |Are you currently employed? |______Yes _____No |
|4. |Length of Employment? |__________________ |
|5. |Monthly take home income? |$_________________ |
|6. |Have you ever declared bankruptcy? |______Yes _____No |
|7. |Have you ever been foreclosed upon? |______Yes _____No |
|8. |Do you know your credit score? |______Yes _____No |
| |If you answered “yes” to the above-question, what is your credit score? | |
| | |__________________ |
|9. |Are you currently working with a Real Estate agent? |______Yes _____No |
|10. |Have you been pre-qualified for a loan? |______Yes _____No |
| |If “yes” to the above question, for how much would you qualified? |$_________________ |
| |Mortgage Company ___________________________________________________ |
| | |
| |Broker’s Name:______________________ Contact Phone:___________________ |
| | |
|11. |How many persons will live in the home you intend to purchase? | |
| | |__________________ |
|12. |Have you completed a HUD approved Homebuyer Education and Counseling session in the last 6 |______Yes _____No |
| |months? | |
|13. |How many bedrooms and baths are you looking for in a home? |______bed _____baths |
|14. |Do you have a preferred area of the county you would like to live in? |______Yes _____No |
| |If “yes” to the above question, please provide details of the location where you would prefer to live : |
| |_______________________________________________ |
| | |
|Name: |________________________________________________________________ |
|Address: |________________________________________________________________ |
|City: |________________________________________________________________ |
|State: |________________________________________________________________ |
|Zip: |________________________________________________________________ |
|Phone: |________________________________________________________________ |
|Email: |________________________________________________________________ |
Please complete this questionnaire in its entirety and fax, email or mail to:
Atlanta Neighborhood Development Partnership Inc
Neighborhood Stabilization Program
235 Peachtree Street NE, Suite 2000
Atlanta, Georgia 30303
PH: 404.420.1606
Fax: 404.523.4357
Email: ccade@
check for more information.
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