What is the Neighborhood Stabilization Program?

What is the Neighborhood Stabilization Program?

The idea of this program is to find distressed properties in neighborhoods, fix them up, and then find an owner-occupant to buy the home with down payment assistance. Many of these homes, the program pays a 20% down payment for the buyer, while the buyer matches with 1%. These homes are in great condition and very energy efficient. This program makes home ownership incredibly affordable. There are a limited number of properties to choose from, however.  Most of them are located in SE Grand Rapids.  There are also certain income qualifications. For example, a household of two people cannot make more than $60,000 year. The amount changes depending on the number of people who will occupy the home. The NSP also requires buyers to take a class on home ownership.

Lisa VanderLoo

Lisa VanderLoo

Sales Associate
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