Cape Coral Neighborhood Stabilization

Hello all,

Here is a link for funds available to assist in Neighborhood Stabilization here in Cape Coral. I have been asked me how this program works, so here's some helpful information.

There ARE funds available !!

The funds DO NOT have to be paid back if the purchaser owns the home as a primary residence during the 5-15 year payback period (time depends on % of assistance and can be up to 20%) and do not refinance to get cash out.

If it is refinanced with cash out the funds become repayable.

The purchaser must qualify under income guidelines

The property purchased must be bank owned and in the Neighborhood Stabilization area designated on the map on the web site (below)

The purchase must be at least 1% BELOW the appraised value of the property.
The purchaser must attend a class prior to being accepted to the program.
There is a TYPO on the website under lender guidelines it should say “Financing should be by institutional lenders OR not of 501 (c) 3 not-for-profit.

Please take a look at the site, the attachments are at the bottom of the page. If you have any questions there is a phone number that you may call. I have been told that the applications will be made available on the site, however for now, applicants are asked to make contact using the phone numbers provided to get an application.

Cape Coral Housing Development Corporation