The homebuyer down payment and closing cost assistance program (DPA) is a source of financial assistance for first-time homebuyers purchasing homes within Greensboro city limits

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Greensboro Homebuyer Down Payment Assistance

Financial Assistance for Homebuyers in North Carolina

Housing Connect GSO’s homebuyer down payment and closing cost assistance program (DPA) is a source of financial assistance for first-time homebuyers purchasing homes within Greensboro city limits. 

Available Assistance 
DPA provides up to $10,000 in down payment assistance and closing costs as a five-year, forgivable loan at zero interest. If you remain in the home for five years, you do not have to repay the loan; the loan is forgiven at 20% per year for each full year you live in the home. 

If you purchase a home in one of the City’s redevelopment areas, an additional $5,000 is available for down payment assistance and the first-time homebuyer requirement is waived 

Eligibility Requirements 
To be considered eligible for the DPA Program, applicants must be first-time homebuyers or have not owned a home within the previous three years. However, if the home being purchased is located in one of the City’s redevelopment areas, there are no past homeownership requirements. Applicants are required to make a cash investment of at least $500 and their household income must fall within the program’s set limits: 
  • Up to 120%of the area median income for households with two or fewer people 
  • Up to 140% of the area median income for households with three or more people.  

They are also required to complete an eight-hour, HUD-approved, in-person homebuyer education course, and secure a fixed-rate, 15- or 30-year mortgage. 


*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but State and local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price, and income limits.         

Note: All figures mentioned above were accurate at the time of publication and may no longer be current. Visit the program website for updated information  spacer

Down payment assistance programs and/or grants were researched by the team at FHA.com. Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.

FHA.com's compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.

Down Payment Grants in North Carolina

The homebuyer down payment and closing cost assistance program (DPA) is a source of financial assistance for first-time homebuyers purchasing homes within Greensboro city limits

DreamKey Partners helps to administer the HouseCharlotte Program on behalf of the City of Charlotte.

This program provides stable, fixed-rate mortgage and down payment assistance of up to 5 percent of the loan amount. Repayment of the down payment is not required, unless the property is sold, refinanced, or transferred within 15 years.

In order to help more residents of Raleigh secure safe and affordable housing, the City provides assistance to qualifying individuals with its Homebuyer Program.

The City of Winston-Salem Homebuyer Assistance Program provides financial and technical assistance to first-time homebuyers with incomes less than 80% of the area median income.

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