Questions and Answers

What is Tampa Bay CDC?
Tampa Bay Community Development Corporation (CDC) is a HUD-approved non-profit organization whose mission is to promote homeownership opportunities to low and moderate income households in the Tampa Bay, Florida area.

Is this for first time home buyers only?
No.  Anyone who meets the income requirements and plans on using it as their personal home are the only requirements.

What exactly is a POP and a NSP home?
POP stands for "Pasco Opportunity Property" and NSP stands for "Neighborhood Stabilization Program".  POP and NSP homes are owned by not for profit agencies that work in conjunction with Pasco County to rehab blighted properties throughout the county and sell them to low to moderate income families with buyer assistance funds.

What are buyer assistance funds?
Depending upon your family's TOTAL household income, you could qualify for either $20,000 or UP TO 50% of the total purchase depending upon that income.  WOW!!!!

Is this program for first-time home buyers only?
No - If you meet the income requirements and will live in the home (your primary residence), this program is for you.

How do I get started?
Call us at 727-858-9900 or sign up on line at The Homebuyers Club link.  We are here to walk you through the Home Buying process.

How do I know if I qualify for a Home Loan?
Just give us a call, and we will put you in touch with a lender approved by Pasco County for this program.

How much do I need to earn to purchase a POP or NSP home and what are the income limits?
Income Limits vary from program to program.  Take a look at the chart below.

INCOME GUIDELINES AS OF MARCH 19, 2009
                                               FAMILY SIZE
                              1            2          3            4          5           6
LOW/       Hourly     $9.95        $11.39      $12.81       $14.23      $15.36      $16.51
INCOME  Monthly $1733.33   $2400       $2229.16   $2475       $2675       $2875
                  Annual    $20800      $28800     $26750      $29700     $32100     $34500

MOD/       Hourly     $23.88      $27.33      $30.75       $34.15      $36.87      $39.62
MIDDLE  Monthly   $4160       $4760      $5350        $5940       $6420       $6900
INCOME  Annual    $49920      $57120    $64200      $71280     $77040     $82800

 CALL FOR MORE DETAILS!!

How much money do I need for a downpayment?
Depending on which bracket you fall into - your cash required will be either $500 or $1250.

Do I have to use a specific Bank or Mortgage Broker to purchase a Tampa Bay CDC home?
We recommend using an Approved Lender who knows the specifics of TampaBay CDC purchase requirements.

What if I don’t qualify now?  What are my options?
Once enrolled in the HomeBuyers Club, they will guide you step by step to help you correct any problems so you can purchase a home at a later date.

Do I need to take Home Buyer classes?
Yes - Your initial counseling session is with Tampa Bay CDC's Home Buyers Club.  You are then required to attend a Home Buyers seminar either at Tampa Bay CDC or with Consumer Credit Counseling Services in Pasco County.  Ask us for details.

 Can I use any Realtor?
Yes - As long as they are on Pasco County's approved Realtor list.  Also, before you tie yourself to a Realtor, be sure that they have knowledge of and experience in this program.  That is for your own well being. 

Can I view the POP and NSP homes on line?
Yes - Go to www.tampabaycdchomes.com and click the "Featured Homes" button.  Go to the site periodically as our inventory is always changing.

I've been told that "POP" and "NSP" homes are remodeled and rehabbed.  Is this correct?
Yes - Every "POP" and "NSP" home goes through stringent inspections as outlined by the Department of Housing and Urban Development(HUD).  The rehabbing and remodeling work is then done under the guidance of Pasco County with licensed contractors who are on the Approved List with Pasco County.

Can I have my own home inspection completed on the the property before buying it?
Yes -  We recommend that you have a home inspection prior to purchasing any home.

Is there a seminar available to get more information?
Yes -  You must attend a County-approved HomeOwnership Seminar prior to closing. A copy of the Certificate must be provided to CDC.

How long does this process take?
From application to closing - about 60 days.

Other questions?
Call or email us.  We are here to help.