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Neighborhood Impact Program (NIP)
NIP assists existing homeowners with incomes at or below 80% of area median income (AMI)
rehabilitates their homes. The maximum subsidy per household is as follows:
$10,000 if homeowner is receiving 3:1 matching funds from a government
entity, forgivable or deferred loan from an eligible state or local home
improvement loan program, member home equity loan or if the member is
the first lien holder of the mortgaged property
$7,500 if no matching funds from above-listed eligible sources
Members may work with eligible homeowners directly or through one or more local housing organizations.
General Program Elements
Eligible repairs/rehabilitation work are outlined in the guidelines provided
via the link below
Existing homeowners with incomes at or below 80% AMI
Owner-occupants and must have resided in home 6 months prior to
enrollment
Five year retention requirement with a prorated recapture of assistance
Eligible properties include single-family homes, condominiums and modular
units (duplexes with certain restrictions)
Updates to the balance of funds for the Homeownership Set-aside Programs will be published weekly.
See "Bulletins"
for updated program notices, application and award info.
> Current Registered Members
> Available funds
Updated: April 12, 2011
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