PERTINENT NSP FACTS

Homeownership assistance is furnished as a deferred loan with 0% interest up to $20,000 ($30,000 for certain qualified employees) and provides “gap” funding toward the purchase price and closing costs associated in buying a home.

This is a 5-year deferred loan - no interest or principal payments are required for the first five years. The balance of the loan amount shall be due and payable at the end of the fifth (5th) year of the loan but may be renewed based on income verification.

If at any time during the loan term the property is sold, transferred, refinanced or the home is no longer the primary residence for the original buyer, then the loan shall be due and payable in full.