Home Ownership Pool (HOP) - City of Wilmington

Home Ownership Pool (HOP) - City of Wilmington is a second mortgage for homebuyers in Wilmington, North Carolina, administered by City of Wilmington Housing & Neighborhood Services Department, Community Development & Housing Division. The City of Wilmington, in partnership with local banks, offers the Home Ownership Pool (HOP), a city-administered second-mortgage down payment assistance loan program for low-to-moderate income households unable to qualify for a conventional mortgage under standard underwriting. HOP provides up to $25,000 in down payment assistance. The property must be purchased within the city limits of Wilmington. Homebuyer Education is the first step; applications are accepted on an ongoing basis. Up to $25,000 in down payment assistance. Second-mortgage gap financing for buyers who cannot qualify for a conventional mortgage. Stackable with HOP 2gether, CPLP, and other DPA programs. Free homebuyer education and one-on-one HUD-certified housing counseling. Applications accepted on an ongoing basis. Funding comes from Partner banks provide approximately $1 million annually; supplemented by City of Wilmington General Funds appropriated to the Housing Loan Funds and federal HUD CDBG and HOME funds.

Home Ownership Pool (HOP) - City of Wilmington offers up to $25,000 in assistance. The program can be combined with HOP 2gether, CPLP, and other down payment assistance loan programs. Amounts are the program's published maximums, not an offer — City of Wilmington Housing & Neighborhood Services Department, Community Development & Housing Division determines any individual award.

Home Ownership Pool (HOP) - City of Wilmington is a second mortgage and is repaid under the terms set by City of Wilmington Housing & Neighborhood Services Department, Community Development & Housing Division. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Home Ownership Pool (HOP) - City of Wilmington is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through City of Wilmington Community Development Home Buyer Education classes (certificate valid two years); topics include credit, working with a real estate agent, fair housing, shopping for a home loan, and inspections. Residency requirement: Property must be purchased within the city limits of Wilmington. This City of Wilmington HOP is administered by the City and restricted to homes inside Wilmington city limits; it is DISTINCT from the New Hanover County Home Ownership Pool already in the catalog. Applicant must complete City Home Buyer Education before becoming HOP-eligible; household income at/below 80% AMI for the Wilmington Metro Area. Application requires the City Housing Programs Application plus a HOP Addendum with credit report, pay stubs, bank statements, and two years of tax returns. Exact 4-person income dollar limit, credit score, DTI, interest rate, term, and purchase-price cap were not extractable from the scanned source PDF and were left blank rather than guessed.

Home Ownership Pool (HOP) - City of Wilmington limits household income to 80% of the area median income, which varies by county and household size. Households at or below 80% of Area Median Income (AMI) for the Wilmington Metro Area, using HUD HOME Program income limits adjusted for household size (2025 limits). 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.

Home Ownership Pool (HOP) - City of Wilmington can be used for Single Family. New construction is eligible.

Home Ownership Pool (HOP) - City of Wilmington serves homebuyers purchasing in Wilmington, North Carolina.

Applications for Home Ownership Pool (HOP) - City of Wilmington go through City of Wilmington Housing & Neighborhood Services Department, Community Development & Housing Division, which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.