1. What is NSP2?
2. How much Purchase Assistance can I qualify for?
3. How do I qualify for First Mortgage Loan Assistance?
4. What neighborhoods can I buy a house in?
5. How do I find a lender and/or realtor?
6. What is the First-Time Homebuyers’ Seminar?
7. When is the next First-Time Homebuyers’ Seminar?
8. Where can I get more information about NSP2?



1. What is NSP2?

The Neighborhood Stabilization Program 2 (NSP2) is a First-Time Homebuyer Purchase Assistance Program offered through the City of Long Beach Development Services Department in partnership with NSP2 Select Lenders and Realtors.

Through NSP2, eligible first-time homebuyers may qualify for a silent second mortgage of up to $97,000 on a foreclosed single-family home in select neighborhoods across Long Beach, with no monthly payments or interest fees on that loan amount.

In addition, NSP2 homebuyers may also qualify for up to $30,000 in grant funding for home rehabilitation and energy-efficiency enhancements, as well as up to $10,000 in grant funding to assist with closing costs.

2. How much Purchase Assistance can I qualify for?

First-time homebuyers in the low-moderate income range may be eligible for purchase assistance loans up to $97,000.

NSP2 homebuyers may also qualify for up to $30,000 in grant funding for home rehabilitation and energy-efficiency enhancements, as well as up to $10,000 in grant funding to assist with closing costs. 

2011 NSP2 Program Income Limits
Income Category	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income	$29,900	$34,200	$38,450	$42,700	$46,150	$49,550	$52,950	$56,400
Low Income	$29,901- $47,850	$34,201- $54,650	$38,451- $61,500	$42,701- $68,300	$46,151- $73,800	$49,551- $79,250	$52,951- $84,700	$56,401- $90,200
Moderate Income	$47,851- $71,750	$54,651- $82,000	$61,501- $92,250	$68,301- $102,500	$73,801- $110,700	$79,251- $118,900	$84,701- $127,100	$90,201- $135,250

3. How do I qualify for First Mortgage Loan Assistance?

To qualify for NSP2 First Mortgage Loan Assistance, you must:

• Demonstrate that you haven’t owned a home in the past three years.  The City considers mobile homes real property; therefore, buyers owning a mobile home are not eligible for participation in NSP2.
• Be able to contribute at least 1% of the purchase price from my personal funds that have been in account(s) for at least 60 days.

4. What neighborhoods can I buy a house in?

View a map of eligible NSP2 neighborhoods in Long Beach. Click here to view the NSP2 project area map

5. How do I find a lender and/or realtor?

View a list of qualified NSP2 Select Lenders and Realtors. Click here to see the Realtor list. Click here to see the Lender list.

6. What is the First-Time Homebuyers’ Seminar?

First-Time HomeBuyer Seminars will instruct you on how to select a home, find a realtor, choose a lender, and understand the financial issues involved with securing an affordable mortgage.

7. When is the next First-Time Homebuyer's Seminar?

Operation HOPE in Long Beach offers 2 Saturday classes a month.  Each class is 4 hours long.  Buyers must attend both to complete the required HUD-certified, 8-hour course.  Those completing both classes will receive a certification of completion through the mail approximately one week later.  For more information, contact Operation Hope at (562) 218-5011.

8-hour HUD-certified homebuying counseling services are also available from a variety of providers throughout Los Angeles and Orange county. For a list, click here.  You may also search for additional HUD-approved housing Counseling Agencies directly from HUD's website by clicking on the following link:

http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm

8. Where can I get more information about NSP2?

General program information can be found on the City's NSP2 web page.  Select lender and select realtors have received training by the City and are able to assist you with details on NSP2.  They are also there to guide you through the process of becoming homeowners