Homebuyer Programs

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Due to current demand, NEFI is no longer taking applications for the NSP3 homebuyer program.


Escambia County has been allocated an additional $1.2 million in funding for the Neighborhood Stabilization Program (NSP3) under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Homebuyer guidelines are similar to the NSP1; however, the target areas have changed in order to address those areas of the County grappling with the most severe instances of foreclosed and abandoned properties.

Homebuyers may purchase a REO property, located in one of the NSP3 target areas, directly from a bank or governmental agency. FUNDING AVAILABLE OCTOBER 1, 2012.

Purchase of a REO property must meet the following requirements:

  • The sales price must be at least 1% less than the as-is appraisal of the property, not to exceed $189,000
  • An as-is appraisal must be completed 60 days prior to the final offer. Appraisals will be ordered by NEFI.
  • Offers must include Escambia County URA-Discount notice form as an addendum.
  • The property condition must be satisfactory for an FHA appraisal or buyer must use a lender with repair escrow capabilities.
  • A Lead Based Paint (LBP) Inspection will be ordered on all homes built before 1978. If a home contains LBP in excess of HUD's Lead Safe Housing Rule, the buyer may terminate their offer or LBP remediation will be a REQUIRED repair scope of work.

To determine if an address is located within a NSP3 target area, go to the interactive NSP3 map at http://gis.myescambia.com/NSP/ and enter the address. Please note that this map only confirms whether a property is within the NSP3 target areas; it is not a search engine for "for sale" homes or homes that are foreclosed or abandoned.


  • Must be a first time homebuyer.
  • Have a total gross family income that does not exceed 120% of the area median income for Escambia County adjusted for family size.
  • Have sufficient income and credit-worthiness to qualify for primary financing from a participating lender.
  • Must attend a free 8 hour HUD certified homebuyer education class offered by CEII (850-595-6234) or Consumer Credit Counseling Services (850-434-0268) prior to closing.


Escambia County and the City of Pensacola jointly administer the State Housing Initiatives Partnership (SHIP) program. This program provides first-time homebuyers loans of up to $7,500 for low and very low-income borrowers for Down Payment and Closing Cost assistance. Assistance is provided in the form of a 5 year forgivable grant, provided that the buyer does not sell, rent, or transfer within that time frame. Maximum sales price is $189,000, and homes cannot be new construction. Funding is available on a first come, first served basis. For more information, call (850) 858-0350.

NSP3 map1.12 MB
NSP Lenders15.77 KB
NSP Realtor Guide152.63 KB
NSP Frequently Asked Questions146.69 KB
Income Limits6.97 KB