Neighborhood Impact Program (NIP)
NIP assists existing homeowners with incomes at or below 80% of area median income (AMI)
rehabilitate their homes. The maximum subsidy per household is as follows:
Up to $10,000 if the member is the first lien holder of the
mortgaged property or 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
or member home equity loan
Up to $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
under the "NIP Guidelines" link below
Existing homeowners with incomes at or below 80% AMI
Owner-occupants and must have resided in home 18 months prior to
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 under the "Available Funds" link below.
for updated program notices, application and award info.
> Current Registered Members
> Available funds
Updated: July 28, 2014