City of Margate Florida

NEIGHBORHOOD STABILIZATION PROGRAM

The U.S. Department of Housing and Urban Development created the Neighborhood Stabilization Program (NSP) to stem the decline of neighborhoods and home values as a result of foreclosures. The City has spent over 2 million dollars acquiring and rehabilitating twelve (12) abandoned and foreclosed homes and reselling them to income qualified applicants. We welcome those 12 new families to Margate! The City is in the process of acquiring and rehabilitating more homes for resale. There are no properties available for purchase at the present time. Please check back on this page in late October 2012. More of our beautiful homes should be available at approximately that time. Please keep in mind that this program does not offer down payment assistance or pay any part of the closing costs. What the Program does offer is a fully rehabilitated home. These homes have been gutted and have all new components such as roof, A/C, appliances, fixtures, floors, walls, sprinkler systems, and impact resistant windows to name a few. All appliances are Energy Star rated and the new systems along with the impact resistant windows make them very energy efficient an qualify them for a reduction in the buyers insurance policy.

In order to qualify for the City of Margate NSP Purchase Program, individuals must meet federal income eligibility requirements. This is an income based not asset based qualification. These limits are based on the combined income and assets of all residents in the household. The table below indicates the MAXIMUM allowable income for a family of the listed size.

THERE ARE NO HOMES AVAILABLE AT THIS TIME. PLEASE CHECK BACK IN OCTOBER 2012.