Interested buyers in a NSP private sale, must fill out the appropriate application provided below:
Private NSP Sale Application 120% AMI
Private NSP Sale Application 50% AMI
Beginning in 2009, Anoka County purchased foreclosed homes for the improvement of neighborhoods through the Neighborhood Stabilization Program (NSP). Homes that were purchased were either remodeled, or demolished, and the homes and lots were sold to private buyers. Buyers of the NSP properties had to fulfill the following requirements:
As a potential buyer of one of these properties it is important not only to understand the documents assigned to the home, but what is required for you to complete to purchase the home.
Federal Program Eligibility: NSP properties that received federal funding have long-term requirements in place for all buyers during the period of the declaration. This requires that all buyers of the property must income qualify based on current federal income limits. Income limits adjust annually and the most current limits will apply.
20 year Declaration of Covenants and Restrictions: Federal funding required that a minimum amount of years were set upon the property to remain affordable to households in low, moderate and middle income levels.
Purchase Money Mortgage: If an original buyer received funds for closing cost assistance and it is within the term of that agreement they will be required to repay funds to the county at closing. This does not, and should not, affect your transaction and is an agreement directly between the original buyer and the County. Anoka County does not offer NSP closing costs, or down payment assistance, to ongoing buyers as the program has grant terms that expire.