Neighborhood Stabilization Program (NSP)

Purchase Assistance and Home Rehabilitation

This program offers purchase assistance and closing costs up to $140,000 and home rehabilitation to eligible very low-income applicants to purchase foreclosed properties.

  • All applicants must be pre-approved by a lender on the City’s registered lenders’ list before an application will be accepted.
  • Applicant does not have to be a first-time homebuyer but cannot own any other residential real estate at the time of completing the application and prior to receiving any assistance from the City.
  • The purchase price for homes may not exceed $250,000.
  • Single-family detached homes, condos, town homes and villas are eligible.
  • Funds are available on a first come, first qualified basis. Funds will be reserved only after an executed purchase contract is received. If the purchase is a short sale, funds will be reserved once bank approves the short sale.
  • Assistance for repairs is budgeted for an average of $60,000.
  • Soft Second Mortgage - Zero percent (0%) interest, 15-year deferred second mortgage that does not require payment by the NSP recipient as long as terms of agreement between the City and owner are maintained for duration of the affordability period.
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NSP Purchase Assistance and Home Rehabilitation Program is administered by the City of Miramar in conjunction with the City’s consultant, Community Redevelopment Associates of Florida, Inc (CRA of Florida).

Approved Lenders List 

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