What is NSP2?

CRHDC is acquiring and rehabbing foreclosed, vacant and blighted homes in the North Metro Denver area to make them more energy efficient and sustainable. Once rehab is completed, these properties are priced at the home's appraised value and sold to qualifying home buyers. These efforts will help strengthen local economies and stabilize the housing market by bringing vacant and foreclosed homes back to productive use.

Click here to view our PDF of our Housing Inventory.

 

Program Benefits:

·       Newly renovated homes – Energy Star Standards

·       Energy Efficient Upgrades = Energy Cost Savings

·       All qualified applicants are eligible to receive a minimum $5,000.00 soft second mortgage for down payment and/or closing costs (forgivable loan)

·       Purchase a home with all major repairs completed and all systems in working order

 

To Qualify for the program:

·       Meet with a housing counselor to determine eligibility and mortgage readiness

·       Qualify for First Mortgage Loan

·       Home must be primary residence

·       Must be income eligible – Household income must be at or below 120% of the Area Median Income for household size:

Household	120% AMI
1	$66,720.00
2	$76,200.00
3	$85,680.00
4	$95,160.00
5	$102840.00

 

 

CRHDC received a $13,000,000 grant in early 2010 from the Department of Housing and Urban Development (HUD) to implement the Neighborhood Stabilization Program round 2 (NSP2) in the North Denver Metro area and the San Luis Valley. CRHDC was part of a national consortium lead by Chicanos Por La Causa (CPLC) and the National Association for Latino Community Asset Builders (NALCAB) which was awarded $137,107,133 in federal funding to revitalize neighborhoods in eight (8) states and the District of Columbia that have been negatively impacted by foreclosures and abandoned properties.