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Affordable Housing 10% Loan Assistance Program

Greenville, North Carolina

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Assistance

10%

Of the purchase price, as the program sets it

Income limit

140% AMI

Of area median income; varies by county and household size

Price cap

$266,000

Highest purchase price the program allows

Repayment

Forgivable

Forgiven after 10 years

What is Affordable Housing 10% Loan Assistance Program?

Affordable Housing 10% Loan Assistance Program is a deferred second loan for homebuyers in Greenville, North Carolina.

  • City of Greenville '10% Loan' Affordable Housing program: 10% of purchase price (max ~$25,000) deferred 0% second for income-qualified buyers within Greenville city limits. Wide AMI range (30-140%) supports workforce as well as low-income buyers. Sales price tied to HUD 95% AMSP.
  • City of Greenville Affordable Housing 10% Loan Assistance Program: 10% of the home's purchase price (up to ~$25,000) provided as a deferred 0% second mortgage to qualifying buyers. Wide income range (30%-140% AMI Pitt County, $34,620-$174,640) reflects multi-tier program design including workforce buyers. Maximum sales price $233,000 existing / $266,000 new (HUD HOME 95% AMSP, FY2025/26). 5-10 year affordability period.
  • forgiven prorated. Pairs with NCHFA, FHA, VA, USDA, and Conventional first mortgages.
  • Funding comes from Federal HOME, Federal CDBG, and Local Government.

How much assistance does it provide?

Affordable Housing 10% Loan Assistance Program provides assistance worth 10% of the purchase price, as set by the program.

  • Buyer contribution: Buyer must contribute at least $1,000 of own funds.
  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

Affordable Housing 10% Loan Assistance Program is forgiven after 10 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Deferred 0% and forgiven prorated over 5-10 year affordability period. Balance due on sale/transfer/refinance/non-owner-occupancy during term.
  • The assistance is recorded in 2 position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Affordable Housing 10% Loan Assistance Program is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • On credit: Generally 640 minimum (per first-mortgage product).
  • A completed homebuyer education course, through HUD-approved housing counseling agencies including Greenville Community Development counseling and OnTrack WNC. 8-hour pre-purchase education plus 1-on-1 counseling required.
  • Residency: Property must be within Greenville city limits and serve as primary residence.
  • Citizenship or immigration status: U.S. citizen or eligible non-citizen.
  • Owner-occupied primary residence within Greenville city limits. Household income within published HUD limits (30%-140% AMI Pitt County, FY2025: $34,620-$174,640). 8-hour HUD-approved homebuyer education plus 1-on-1 counseling. Minimum $1,000 buyer contribution. Property must pass HQS inspection. Maximum sales price tied to HUD HOME 95% AMSP. CDBG/HOME environmental review.

The program excludes

  • Manufactured homes
  • Purchases above the $266,000 price cap
  • Households above 140% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Affordable Housing 10% Loan Assistance Program limits household income to 140% of the area median income, which varies by county and household size.

  • Multi-tier income range 30%-140% AMI Pitt County. FY2025: $34,620 (1p, 30%) to $174,640 (8p, 140%).
  • The limit applies to total household income, not only the borrower’s.
  • The program lists a maximum household size of 8.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Affordable Housing 10% Loan Assistance Program caps the purchase price at $266,000.

  • Eligible property types include Single-family detached, Townhome, and Condominium.
  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Affordable Housing 10% Loan Assistance Program serves buyers purchasing in Greenville, North Carolina.

How do you apply?

Applications for Affordable Housing 10% Loan Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through HUD-approved housing counseling agencies including Greenville Community Development counseling and OnTrack WNC. 8-hour pre-purchase education plus 1-on-1 counseling required..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Apply directly to City of Greenville Community Development. Income certification, credit review, and property eligibility determination performed by City staff., and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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