ShareThisBaltimore County Neighborhood Stabilization Program “NSP” $50,000 Loan for Home Buyers
Baltimore County is starting a program to encourage home buyers to consider homeownership in existing residential communities that have foreclosed properties in the 21207, 21220, 21221, 21234, 21244, 21133, and 21117Â zip codes. Before signing a real estate contract, a buyer must complete TWO workshops (home buyer and pre-settlement) and counseling with a Baltimore County affiliated Housing Counseling Agency. Please contact me for a list of the approved agencies for this program. Some additional highlights of the program are listed below:
Buyer(s) do not have to be first time home buyers.
Buyer(s) can get up to $50,000 for down payment and closing costs.
Property must be vacant.
Property must be in one of the zip codes listed.
Property must be a foreclosure-NO SHORT SALE.
Contract must be written for 60 days.
Gift Contributions may not exceed 3% of the sales price.
Property must be purchased at minimum discount 5%; a 15% or more discount based on an appraisal is preferred.
Buyer(s) must have home inspection.
The cost of repairs required to correct housing quality standards (HQS) identified deficiencies can be included in the borrowers maximum loan amount up to $3,000.
NSP is a loan that is forgivable after 15 years.
Contact me to receive more information about this program and to receive a FREE copy of my report “The 7 Things You Must Know to Successfully Receive Grant Money.”
27 Responses to “Baltimore County Neighborhood Stabilization Program “NSP” $50,000 Loan for Home Buyers”
March 4th, 2009 at 2:02 PM
Good afternoon,
I would like information on the NSP loan program. My husband and I would like to prepare to buy a home in the 21221 zip code.
Thank you,
Felisha Requer
March 5th, 2009 at 9:31 PM
Hello Felisha,
The Baltimore County Neighborhood Stabilization Program will Start in April give me a call at 410-977-7176 I can met with you and your husband to review the guideline for the program.
May 4th, 2009 at 3:43 PM
Does the home have to be a primary residence or can it be an investment property? Is there any more zip codes that are included?
May 5th, 2009 at 12:18 PM
Hello Renita,
Yes the property must be a primary residence and unfortunately the zip codes are limited. The MALP program is coming back this year and might work for you in other zip codes.
May 6th, 2009 at 3:15 PM
Hello,
Does the NSP have an income limitation?
Can all lenders be use with NSP? If not, can you provide an listing?
Thanks!
May 10th, 2009 at 12:20 PM
Naji-
Please contact me, as I am very interested in learning more about this program.
Thanks!
Jamie
May 12th, 2009 at 11:41 AM
Hello Chin,
You must use a participating lender for the NSP program and the program does have income limits. Call me at 410-977-7176 and I will give you the list of participating lenders and the two counseling agencies you must use.
May 12th, 2009 at 11:43 AM
Hello Jamie,
I will contact you with information about the program.
May 16th, 2009 at 11:35 PM
I am looking to buy my first home in the 21133, 21207, or 21244 areas, but I have credit issues. Is this still a program that I can benefit from?
May 19th, 2009 at 2:09 PM
Hello Tristin,
Unfortunately, the only way you can take advantage of the grant programs is by being approved by a lender. If you have credit issues you must address them before you can use the programs.
June 3rd, 2009 at 7:12 AM
Please contact me with more information about this foreclosure loan program.
June 4th, 2009 at 6:52 PM
Hello Nikki,
Call me at 410-977-7176 at your earliest convenience. I will provide you with more information.
June 23rd, 2009 at 6:01 AM
Good morning!
I just heard about the program yesterday. I will like to learn more about it. I am looking at the 21117 area.
Thank you.
June 23rd, 2009 at 11:52 AM
The Neighborhood Stabilization Program “NSP” started in April of this year. I talked with Regina Buker Director of Harbel Housing Partnership on June 15th after my presentation for them and she told me the program still have money available. The first step is to sign up for a workshop and counseling class with Harbel at 410-444-9152. Give me a call if you have additional questions at 410-977-7176.
July 28th, 2009 at 9:55 PM
Hello,
My husband and I are interested in learning more about this program. We live in the 21221 area.
August 1st, 2009 at 4:14 PM
Hello Chasidy,
I can provide you with a lot of information on the Baltimore County Neighborhood Stabilization Program (NSP). Please call me at your earliest convenience at 410-977-7176. Also I will email you a copy of my free report “The 7 Things You Must Know to Successfully Receive Grant Money.”
August 31st, 2009 at 12:42 PM
Is the Neighborhood Stabilization Program style available?
September 2nd, 2009 at 2:46 PM
Yes, But the funds are getting low. Call me for more details.
September 23rd, 2009 at 1:58 PM
Hello,
I just put a contract in for a HUD home located in Baltimore County zipcode 21206. I also completed a first time buyers workshop back in July through Diversified Housing. Will I be able to take advantage of this program?
September 27th, 2009 at 8:13 PM
Hello Kesha,
Unfortunately you can not use the NSP program in the 21206 zip code. Many of the grant programs for Baltimore County like SELP or MALP you can not purchase a property in as-is condition like a HUD property and receive grant money. If you have more questions do not hesitate to contact me.
October 8th, 2009 at 7:56 AM
Do you know if money is still available for NSP program? If not, will there be another phase(NSP2) for Baltimore county? Also do you know if EBDI was approved for NSP2? Thanks in advance for any info you can provide.
October 9th, 2009 at 2:32 PM
The NSP program is currently out of funds. We are waiting to see if more funds are approved. Check back with me after Nov. 30th.
December 19th, 2010 at 9:12 PM
“My husband and I would like to prepare to buy a home in the 21221 zip code.”
You can read more about it?
December 15th, 2013 at 10:11 AM
Hi, Does this program still exist?
December 17th, 2013 at 4:19 PM
Hello Cesar,
Unfortunately no. But Baltimore County has other programs you can use like the Neighborhood Conservation Initiative Program (NCI) contact me for more details. Thanks
August 8th, 2015 at 11:34 AM
Hello Mr Rashid i was looking to buy a house with this program on the zip code 21222 if u can please contact me at 4438860668 i have some questions thanks
August 13th, 2015 at 3:20 PM
Hello Madline it was great speaking with you today. Jeff St. Clair (First Home Mortgage) 443-717-4176 will be giving you a call. Thanks
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