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HUD Articles

NC Down Payment Assistance Program

October 18, 2016

Are you purchasing a home in Cabarrus, Cumberland, Guilford, Johnston or Mecklenburg counties? You may be eligible for $15,000 in Special Down Payment Assistance.

NC Housing is relaunching their $15,000 Down Payment Assistance Program on October 17, 2016. Three thousand loans will be available. This is for Primary Residence properties only (conventional, VA or FHA financing). Only available in the five counties listed above. Home price cannot exceed $245,000 and cannot be new construction. The DPA is in the form of a 5 year, no interest loan, forgiven at 20% per year.

Am I Eligible?

This Down Payment Assistance is open to buyers who:

  • Are a first-time home buyer or military veteran
  • Have a credit score of 640 or higher
  • Complete an in-person or online home buyer education course
  • Have an annual income not to exceed $67,000 for a household of 2 or less and $77,000 for a household of 3 or more.

For more details, visit the NC Housing Agency.

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