Down Payment Assistance

What is Down Payment Assistance?

Down Payment Assistance is a grant for homebuyers in Statewide County, North Carolina.

• The NC Realtors Housing Foundation Down Payment Assistance Grant is a statewide cash-grant program providing $1,500-$8,000 to first-time homebuyers in North Carolina. Funded by NCR member contributions and the Foundation's general fund; distributed via NCR member Realtors. No repayment.
• Cash grant of $1,500 - $8,000 (no repayment) toward down payment and/or closing costs. Statewide.
• available through participating Realtor referrals.
• Funding comes from North Carolina Realtors Housing Foundation (501(c)(3)).

How much assistance does it provide?

Down Payment Assistance offers up to $2,500 in assistance.

• 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?

Down Payment Assistance is structured as a grant, so it is not repaid.

• Repayment is triggered by None - true grant.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

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

What are the income limits?

Down Payment Assistance limits household income to 150% of the area median income, which varies by county and household size.

• Household income up to 150% HUD AMI for the property county (varies): typical range $42,800 (1p, lower-AMI county) - $137,550 (4p, higher-AMI county).
• 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?

Down Payment Assistance caps the purchase price at $456,000.

• Eligible property types include Single-family detached, townhouse, condominium.
• New construction is eligible.
• Manufactured homes are not eligible.

Is there eligibility for specific groups?

Down Payment Assistance names active-duty service members, reservists and National Guard members, surviving spouses, law enforcement officers, firefighters, healthcare workers, and buyers with disabilities among the groups it serves.

• Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.

Where does it apply?

Down Payment Assistance serves buyers purchasing in Statewide County, North Carolina.

How do you apply?

Applications for Down Payment Assistance go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Contact the administering agency to reserve funds

   Funds are reserved through Realtor-driven; submit application through NCR member., and are subject to availability.

2. 2

   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.