WANT TO BUY A HOME AND NEED HELP WITH THE DOWN PAYMENT?

Statewide Programs:

NC 1st Home Advantage Down Payment: Provides eligible first-time homebuyers and military veterans with $15,000 in down payment assistance. This assistance is structured as a 0%, deferred second mortgage, forgiven at 20% per year after year 11, with complete forgiveness at year 15.
NC Home Advantage Mortgage Program: Offers stable, fixed-rate mortgages with down payment assistance of up to 5% of the loan amount. Repayment of the down payment is not required unless the property is sold, refinanced, or transferred within 15 years.
Local Programs:

Raleigh Homebuyer Assistance Program: Provides zero-interest loans to assist with down payment and closing costs or to cover financing gaps. The loans are deferred, with no payments due until the home is sold or is no longer the owner’s primary residence.
Durham Down Payment Assistance Program: As of July 2023, eligible homebuyers may receive up to $80,000 for down payment and closing costs assistance.
Greensboro Homebuyer Down Payment Assistance: Offers financial assistance for first-time homebuyers purchasing homes within Greensboro city limits.
HouseCharlotte Program: Provides down payment assistance to eligible homebuyers in Charlotte.
Winston-Salem Home Ownership Assistance Program: Provides financial and technical assistance to first-time homebuyers with incomes less than 80% of the area median income.
City-Wide Homebuyer Assistance Program (High Point): Assists eligible individuals with down payment and closing costs for purchasing a home within High Point city limits.
Down Payment Assistance Program (Rocky Mount): Offers assistance to eligible homebuyers to achieve their dream of homeownership in Rocky Mount.
Federal Programs:

Federal Housing Administration (FHA) Loans: Insures loans provided by approved lenders, allowing for lower down payment requirements, often as low as 3.5% of the purchase price. Borrowers are required to pay mortgage insurance premiums.
HOME Investment Partnerships Program: Provides grants to states and localities to fund activities such as building, buying, and rehabilitating affordable housing for rent or homeownership. A portion of these funds can be used to assist eligible homebuyers with down payment and closing costs.
Housing Choice Voucher (HCV) Homeownership Program: Allows eligible participants to use their HCV assistance toward homeownership expenses, including mortgage payments and other related costs. Participants must meet specific income and employment requirements and complete a pre-assistance homeownership counseling program.
Good Neighbor Next Door Program: Offers law enforcement officers, teachers, firefighters, and emergency medical technicians a 50% discount on the list price of homes located in revitalization areas. Participants must commit to living in the property as their sole residence for at least 36 months.
Native American Direct Loan (NADL) Program: Provides direct home loans to eligible Native American veterans to finance the purchase, construction, or improvement of homes on Federal Trust Land. These loans come with no down payment or private mortgage insurance requirements and feature competitive interest rates.

A downpaymentAZ specialist can discuss all down payment assistance programs that best meet individual home buyer needs.

Each program and participating lender may have different credit score requirements, income levels, etc. It’s best to review all factors in qualifying for down payment money.  Give us a call now or complete the secure online form to see how much down payment money you can get.

Yes, We can work with many buyers who have credit scores as low as 600. There are many programs available to review or help you clean up bumps or bruises on your credit.

Many types including FHA, VA Loans, USDA, UHC and most Conventional loans. Call now or complete the secure form to see how much down payment assistance you can get.