1. Establish financing mechanisms to help qualified, income-eligible homebuyers to purchase a foreclosed or abandoned home in Arlington.
    
2. Acquire and rehabilitate foreclosed or abandoned homes in Arlington and sell homes to qualified income-eligible homebuyers.
     
3. Acquire and demolish vacant, blighted foreclosed homes and redevelop the property with NSP grant eligible activities such as construction of a new home or creation of a public facility such as a pocket park.

GENERAL INFORMATION

Frequently Asked Questions (pdf)

NSP PowerPoint Presentation – Council Member Rivera’s 12-4-08 Town Hall Meeting

Assistance Provided

• Homebuyer Assistance may include a grant for downpayment, closing costs and /or rehabilitation costs of the foreclosed home.
    
• Foreclosed homes must be acquired at a discount from the appraised value. The home must be appraised at least 60-days prior to purchase.
   
• Foreclosed homes available to purchase must have been vacant or occupied by the homebuyer
    
• Homebuyers must successfully complete a minimum of eight hours of free HUD approved homebuyer education

• Homebuyers must meet HUD income limits
• households with incomes at or below 120% of Area Median Income (see NSP income limits)
• 25% of NSP funds must benefit households at or below 50% of Area Median Income
• Homebuyer must be able to qualify for the mortgage
• Homebuyers must reside in the home as their primary residence for an affordability period determined by the amount of assistance received
• Homebuyers must acquire a vacant foreclosed home with NSP funds
• The target areas are located in the City of Arlington and identified as East Central and South East. Links below list of all home addresses located within these two target areas. If a foreclosed address does not appear in the listing, it is not located in the target area and, therefore, is ineligible to participate in the NSP.

  • East Central Target Area Addresses (pdf)
  • South East Target Area Addresses (pdf)

• Foundation repairs
• Electrical repairs
• Heating and plumbing repairs
• Structural repairs, especially roofs, porches, windows, and doors
• Repairs needed to meet City Code
• Replacement of essential built-in appliances
• Vinyl siding in lieu of exterior paint
• Install ramps, widen doorways
• Install grab bars, install wheel chair accessible shower

• Luxury items
• Wall paper
• Flooring such as tile, hard wood floors, etc.
• Hot tubs, whirlpool baths, steam showers
• Patios or decks
• Room additions
• Installation of fireplaces
• Window treatments (curtains, blinds, etc.)
• Additions that alter or increase the square footage of the residence.
• Repairs otherwise covered by homeowner’s insurance

• NSP City of Arlington Target Areas (pdf)
• East Central Target Area Map (pdf)
• South East Target Area Map (pdf)
• Detail-Southeast Target Area (pdf)
• East Central Target Area Addresses (pdf)
• South East Target Area Addresses (pdf)