Neighborhood Stabilization Program

Affordable Housing Clearinghouse (AHC) received $568,644 in National Stabilization Program (NSP) Funds to purchase real estate owned properties in Orange County. The purpose of the NSP program is to stabilize at-risk neighborhood communities from distress due to home foreclosures and neighborhood abandonment. AHC successfully rehabilitates and resells these homes in accordance to the housing quality standards as required by U.S Department of Urban Housing. After rehabilitation the properties are made available to qualified first-time homebuyers. If you are interested in this program please call us at (949) 859-9255.

Properties Available

For additional information on the properties available, please contact the listing agents.

Properties Available From Mary Erickson Community Housing

In addition to the properties listed above, there also is a property from one of our community partners, Mary Erickson Community Housing, a non-profit provider of affordable housing.

Information Flyers

Homes for Sale

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click here to go to Mary Erickson Community Housing’s website.

NSP 2014 Income Limits

rotate your phone for a better view of the table below:

Household Size

1

2

3

4

5

6

7

Very Low 50%

$31,160

$36,150

$40,650

$45,150

$48,800

$52,400

$56,000

Low 80%

$50,600

$57,800

$65,050

$72,250

$78,050

$83,850

$89,600

Moderate 120%

$76,000

$86,800

$97,600

$108,400

$117,200

$125,800

$134,600

NSP 1 Program Qualifications

  • Applicants must be income qualified (see Income Limits)
  • Minimum homebuyer contribution: 1% of purchase price from the applicants own funds, in addition to buyer’s customary closing costs
  • Maximum down payment assistance is up to 30% of purchase price of the home not to exceed $80,000
  • Assistance provided is 0% interest loan due in 15 years, 1 month (181 months); loan forgivable after 15 years if property remains owner occupied
  • Applicant must qualify with a lender for a 30-year fixed-rate loan – no adjustable rate mortgages (ARMs)
  • Affordability restrictions: 15 year minimum
  • Property purchased must remain owner occupied
  • Citizenship/Residency status required
  • Credit:

  • No min. credit score
  • No credit accounts past due at time loan is recorded
  • No outstanding unpaid judgments or involuntary liens
  • No bankruptcies
  • Homebuyer education required
  • Resources

    Click here for more information on US Dept. of Housing and Urban Development’s website

    • A wonderful way for first-time homebuyers like myself to get into the market.

    NSP 2 Program Qualifications

  • Applicants must be income qualified (see Income Limits)
  • Minimum homebuyer contribution: 3% of purchase price from the applicants own funds
  • Maximum down payment assistance is $80,000, amount to be determined as needed
  • Assistance provided is 0% interest loan due in 30 years, 1 month (361 months)
  • Applicant must qualify with an approved lender for a 30-year fixed-rate loan – no adjustable rate mortgages (ARMs)
  • Affordability restrictions: 30 years
  • Property purchased must remain owner occupied
  • Citizenship/Residency status required
  • Homebuyer education required

  • Resources

    Click here for more information on the NSP 2 Program Buyer’s Guide.

    Serving Southern CA for Nearly 30 Years.

    Contact us TODAY
    (949) 859-9255

    About Us
    Stacks Image p29515_n278055
    Affordable Housing Clearinghouse is a non-profit organization that provides financing for affordable housing and homeownership.
    Let Us Help

    Get in touch if you’re having problems, need something specific or have questions about of our services, use the eMail form below.

    Phone: (949) 859-9255

    Toll Free: (877) 990-LOAN (5626)

    Fax: (949) 859-8534

    Address: 23861 El Toro Road, Suite 401, Lake Forest, CA 92630



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