Los Banos NSP Down Payment Assistance Program Admin- 1953

To administer and implement the City of Los Banos’ Neighborhood Stabilization Program (NSP). These funds will be used as down payment assistance and GAP financing for the purchase of foreclosed homes. The State of California allocated $2.4 million to the City of Los Banos.

The City will apply for the $2.4 million of funds once the NOFA is released. MCAG will prepare NOFA for the City’s approval. Once the funds are awarded, the City will have approximately 12 months to use the NSP funds. Since MCAG is currently administering the City’s HOME First Time Homebuyers (FTHB) program, the NSP program will be similar and therefore be more like a continuation of the FTHB.