NSP Program

Citrus County Housing Services is using $3.9 million in Neighborhood Stabilization Program funds to help get foreclosed homes back on the tax roll. The program is to get moderate and low income buyers into the homes after they are purchased and rehabilitated.

The program employs two strategies;

  1. First is to buy bank-owned, foreclosed properties
  2. Second, is to rehabilitate them and then sell them to get the homes back into local homeowners' hands.


Eligibility criteria and program requirements

  1. Household income must not exceed 120% of the area median income (AMI). Guidelines for income limits are established using the HUD Section 8 Income limits adjusted for household size. Income limits updated annually by HUD.
  2. Property purchased must be located in a priority area as established in the County’s NSP application to the DEO and HUD, and may be amended from time to time.
  3. Buyers must participate in pre-purchase credit counseling, as well as (2) post-purchase counseling sessions. This service will be provided by a HUD-approved counseling agency authorized by Citrus County Housing Services at no cost to the buyer.
  4. Buyers must obtain a Desktop Underwriter® approval (or equal) through a Lender that complies with the bank regulators’ guidance for traditional mortgages. No sub-prime loans are allowed under this program.
  5. Must undergo an 8-hour homebuyer counseling course by a HUD-approved counseling agency.
  6. Homebuyer must not currently own a home; however, the homebuyer does not have to be a first time homebuyer for purposes of qualifying under this program.


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