The Neighborhood Stabilization Program (NSP) Homebuyer Assistance Program is administered by the City of Covington’s Community Development Department. The purpose of the program is to reduce the number of foreclosed properties and increase the number of homeowners in the City of Covington. Under this program, households which meet income, credit, and other requirements may obtain loans to assist with purchasing a home to live in as an owner occupant. The deferred payment, zero interest, forgivable loans can be used for down payment and closing costs related to the purchase of an owner occupied home. The loan will be forgiven on a pro rata basis that is determined by the amount of the NSP assistance. The loan will be completely forgiven if the owner occupies the home as their principal residence for the minimum period required by the program.

Calculate the buying power that the Neighborhood Stabilization Program may be able to provide you by using our NSP Buying Power Calculator.

A concise Homebuyer Fact Sheet may be found here.

Click here to download the Neighborhood Stabilization Program Guidelines

List of Sold Properties: 320 East 18th Street

For information on the application process contact  Jeremy Wallace at (859) 292-2147, jwallace@covingtonky.gov; or John Hammons at (859) 292-2105,  jhammons@covingtonky.gov