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Is the Neighborhood Stabilization Program for me?

April 6, 2013

To be eligible for the Orange County Neighborhood Stabilization Program

a. Buyers cannot currently own a home.

b. Buyers must be able to obtain mortgage financing.

c. Buyers must have a minimum credit score of 620.

d. Buyers must complete a homebuyer’s education class and obtain a certificate.

e. Buyers must contribute in cash 3.5% of the sales price toward the purchase of the home for FHA loans – OPTION A.

f. Buyers must contribute in cash 1.75% of the sales price toward the purchase of the home for FHA loans – OPTION B.

g. INVESTORS ARE NOT ALLOWED to participate in this program.

h. Buyers must meet the income guidelines

 

Neighborhood Stabilization Program offers homebuyer assistance up to $20,000 is available based on income and household size, and Orange County may pay most of your closing costs.

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