City of Goldsboro Homebuyer Down Payment Assistance Program

What is City of Goldsboro Homebuyer Down Payment Assistance Program?

City of Goldsboro Homebuyer Down Payment Assistance Program is a deferred second loan for homebuyers in Goldsboro, North Carolina, administered by City of Goldsboro Community Relations and Development Department.

• The City of Goldsboro provides down payment and closing cost assistance to low-to-moderate income first-time homebuyers purchasing a single-family home within the Goldsboro city limits, funded through HUD HOME and CDBG. Assistance is a 0% interest deferred loan; homebuyer education is required and income must be at or below 80% AMI.
• Down payment assistance.
• Closing cost assistance.
• 0% interest deferred loan.
• Federally funded (HOME/CDBG).
• This is a federal program, so it is available beyond a single state or city.
• Funding comes from HUD HOME and CDBG.

Do you have to pay it back?

City of Goldsboro Homebuyer Down Payment Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Sale, transfer, or property ceasing to be primary residence.
• 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?

City of Goldsboro Homebuyer Down Payment Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

City of Goldsboro Homebuyer Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

• Household income at or below 80% AMI for Wayne County (dollar table not confirmed from primary PDF).
• The limit applies to total household income, not only the borrower’s.
• 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?

City of Goldsboro Homebuyer Down Payment Assistance Program can be used for Single Family.

• New construction is eligible.
• Manufactured homes are not eligible.

Where does it apply?

City of Goldsboro Homebuyer Down Payment Assistance Program is a federal program, so it is not limited to North Carolina.

• The program targets specific areas: Corporate limits of the City of Goldsboro, NC.

How do you apply?

Applications for City of Goldsboro Homebuyer Down Payment Assistance Program go through City of Goldsboro Community Relations and Development Department, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program before funds are reserved.

2. 2

   Contact City of Goldsboro Community Relations and Development Department to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 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.