Harris County NSP Programs
Down Payment Assistance
Harris County has purchased recently foreclosed homes to sell to pre-qualified buyers for 20% below the their original purchase price. The pre-qualified buyers must meet all guideline of Harris County’s H.O.M.E. program and occupy the purchased home for the required affordability period.
All licensed real estate agents are welcome to participate in the H.O.M.E. program. The standard 3% commission to the buyer’s agent applies; along with up to 6% contribution toward the buyer’s closing costs.
Neighborhood Stabilization Program Information:
Dodd-Frank Wall Street Reform and Consumer Protection Act – The Department of Housing and Urban Development (HUD) announced on September 8, 2010, the distribution of $1 billion in funds for the Neighborhood Stabilization Program as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Funds from this program will be used in combination with previous funding for Neighborhood Stabilization Program.
Housing and Economic Recovery Act – On July 30, 2008, the Housing and Economic Recovery Act of 2008 was passed by the Federal government as a way to address the nationwide foreclosure crisis. The Neighborhood Stabilization Program (NSP) was designed as part of HERA by the Department of Housing and Urban Development (HUD) to address the needs of each community directly.