Homebuyer Assistance For WG/Univ Areas

Homebuyer Assistance For WG/Univ Areas is a deferred second loan for homebuyers in Greenville, North Carolina. City of Greenville place-based DPA targeted to West Greenville and ECU university neighborhoods. Up to $25,000 deferred forgivable second for FTHBs at/below 80% AMI. 15-year affordability period. City of Greenville Homebuyer Assistance for West Greenville (WG) and University Areas: up to $25,000 in DPA targeted to encourage owner-occupancy in West Greenville and the East Carolina University (ECU) neighborhoods (Dickinson Avenue corridor, Tar River, College View, etc.). Designed to combat absentee-landlord rental concentration in historically renter-heavy university and revitalization areas. Income at or below 80% AMI ($46,200-$88,800). 0% deferred forgivable second. 15-year affordability term. Pairs with NCHFA, FHA, VA, USDA, Conventional. Funding comes from Federal HOME, Federal CDBG, and Local Government.

Homebuyer Assistance For WG/Univ Areas is forgiven after 15 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Deferred 0% and forgiven prorated over 15-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.

Homebuyer Assistance For WG/Univ Areas is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: Standard FTHB requirement; displaced homemaker / single-parent exceptions per HUD. On credit, the program states: Generally 640 minimum (per first-mortgage product). A homebuyer education course is required, through HUD-approved housing counseling agencies including Greenville Community Development counseling, ECU Community Outreach, and OnTrack WNC. Residency requirement: Property must be within designated West Greenville or University (ECU) neighborhood and serve as primary residence. Citizenship or immigration status: U.S. citizen or eligible non-citizen. PROPERTY MUST BE LOCATED IN A DESIGNATED WEST GREENVILLE OR UNIVERSITY (ECU) NEIGHBORHOOD per the City's targeted-area map. First-time homebuyer (no primary-residence ownership past 3 years). Owner-occupied primary residence. Household income at or below 80% AMI Pitt County. 8-hour HUD-approved homebuyer education plus 1-on-1 counseling. Minimum $1,000 buyer contribution. Property must pass HQS inspection. Pre-1978 properties require lead-based-paint risk assessment.

Homebuyer Assistance For WG/Univ Areas limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% AMI Pitt County. FY2025: 1-person $46,200 to 8-person $88,800. 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.

Homebuyer Assistance For WG/Univ Areas caps the purchase price as follows: Subject to HUD HOME 95% area median sales price limits for Pitt County. Eligible property types include Single-family detached, Townhome, and Condominium. New construction is eligible. Manufactured homes are not eligible.

Homebuyer Assistance For WG/Univ Areas serves homebuyers purchasing in Greenville, North Carolina. The program targets specific areas: Designated WEST GREENVILLE and EAST CAROLINA UNIVERSITY (ECU) neighborhoods within City of Greenville: Dickinson Avenue corridor, Tar River, College View, and adjacent census tracts identified on the City Community Development targeted-area map. Place-based subsidy designed to encourage owner-occupancy in historically renter-heavy university-adjacent areas.

Applications for Homebuyer Assistance For WG/Univ Areas go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Apply directly to City of Greenville Community Development. Property eligibility confirmed against the targeted-area map. 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.