Homebuyer Assistance For WG/Univ Areas

What is 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.

Do you have to pay it back?

Homebuyer Assistance For WG/Univ Areas is forgiven after 15 years, so a buyer 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.

Who qualifies?

Homebuyer Assistance For WG/Univ Areas is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

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.

What kind of home can it be used for?

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.

Where does it apply?

Homebuyer Assistance For WG/Univ Areas serves buyers 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.

How do you apply?

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.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved housing counseling agencies including Greenville Community Development counseling, ECU Community Outreach, and OnTrack WNC..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Apply directly to City of Greenville Community Development. Property eligibility confirmed against the targeted-area map., 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.