Wednesday, January 20, 2010

Neighborhood Stabilization Program (NSP) - Elk River and Sherburne County

Have you been thinking about buying a new home but don't have the necessary down payment? There is a program called the Neighborhood Stabilization Program (NSP) available for those interested in purchasing a home in Elk River or greater Sherburne County areas. The NSP can only be used in certain neighborhoods of Sherburne County and Elk River. Please take a look at the below information and let me know if you have any questions.

Neighborhood Stabilization Program - Elk River

Down payment assistant amounts have changed from $5,000 to $10,000-$15,000. Click here for the updated funding availability chart. Applicants must meet income eligibility requirements.

To be eligible for the NSP funds, the home must be located in one of following neighborhoods:

o Country Crossing
o Elk River Station
o Grandview Addition
o Heritage Landing
o Sandpiper Estates
o Twin Lake Townhomes
o Trott Brook Farms- all subdivisions

Other information:
o the discount appraisal price dropped from 15% to 1%
o down payment assistance can be used in conjunction with purchase rehab

If you have questions about the application process or NSP funds, please contact Tri-CAP at 320-257-4461 or visit their website.

- Elk River NSP Funding Information
- Sherburne County NSP Funding Information


CHAD ELLIOT, REALTOR©

The Hennepin Group, LLC

Keller Williams Realty

17205 Yale Street NW, Suite D
Elk River, Minnesota, 55330

Mobile: (651) 795-1147

Fax: (763) 241-0187

Email: chadelliot@kw.com