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Breadcrumb Start you are here >Home/ Neighborhood Stabilization Program/ Eligibility & Program Information

Eligibility & Program Information

Got questions? The Nassau County Office of Community Development has answers! You can get answers to your questions regarding these materials during normal business hours at (516) 572-1936.

BELOW ARE SOME BASIC POINTS

PLEASE READ THE PROGRAM GUIDELINES FOR COMPLETE DETAILS

  • You may receive direct subsidies to the purchase price of up to $75,000.
    • The NOI form will let you know exactly how much you would receive.
    • You may also combine grants from other programs.
  • You must occupy the home as a  primary residence for 15 years.
    • Afterwards, the subsidy amount is forgiven.
  • Sales prices are non-negotiable.
    • Check the "Homes for Sale" tab for listings.
  • You do not have to be a resident of Nassau County to parcitpate.
  • The homes are for sale, and you must have the resources to qualify for a mortgage.
  • There are income limits as established by HUD and listed below:
    • Each house listed will state which limits applies
Household Size for FY 2013 Moderate & Middle Gross Annual Income Limits
1-Person 2-Persons 3-Persons 4-Persons 5-Persons 6-Persons 7-Persons 8-Persons
80% $ 59,300 $ 67,800 $ 76,250 $84,700 $91,500 $98,300 $ 105,050 $ 111,850
120% $88,950 $101,700 $114,400 $127,100 $137,250 $147,450 $157,600 $167,750

 

ADDITIONAL RESOURCES:

HUD Homebuyers Kit

HUD Common Questions from First-Time Homebuyers

 

How to apply for a Fannie Mae Loan

NYTimes - How to get a mortgage rate beginning with a 3

Nassau County does not endorse any of these website vendors, or any advertisements found in them. The articles are for informational purposes only, and do not necessarily represent the opinion or position of Nassau County.