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City of Coral Springs NSP3

Contact


Community Redevelopment Associates of Florida, Inc
8569 Pines Boulevard Suite 201
Pembroke Pines Florida 33024
954 431-7866






Program Overview


City of Coral Springs NSP3 is a program that provides financial assistance to purchasers of foreclosed or abandoned properties. Property must be in a designated target area of Coral Springs


Who is eligible for thisTest program?


Borrowers must not own any real estate, but do not need to be first-time homebuyers Borrowers must be low to middle-income Down payment, closing costs, mortgage or interest buy-down, rehabilitation and repairs

Maximum % of Sales Price: 97%
Is thisTest program for first time buyers only? No


Property Eligibility Requirements


Property must be in a designated area of the city of Coral Springs
The sales price cannot exceed $ 250000.
Allowable property types: Single family detached homes, condos, townhomes, villas


Benefit Details


The loan is forgivable in its entirety at the end of the term. There will be a yearly write-down of the loan after the end of each full year. Maximum loan is $25000 for rehabilitation and $25000 for other expenses.

Benefit: Second Mortgage 0% interest, deferred payment loan
Loan Term:15 years
Homebuyer Counseling /
Education Required:
Yes
Owner Occupancy Required:Yes
Other Program Comments:Application is made through an approved lender (see list on website). Submit applications after a purchase agreement has been signed.

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