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Homebuyer Assistance Program for Households

Greensboro, North Carolina

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Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Forgivable

Forgiven after 10 years

What is Homebuyer Assistance Program for Households?

Homebuyer Assistance Program for Households is a deferred second loan for homebuyers in Greensboro, North Carolina.

  • Greensboro income-qualified DPA: up to $15,000 deferred forgivable second for first-time homebuyers at or below 80% AMI purchasing within Greensboro city limits. 600 FICO. 5-10 year HOME affordability period.
  • Greensboro Homebuyer Assistance Program for Households: up to $15,000 in down payment / closing-cost assistance for income-qualified first-time homebuyers (at or below 80% AMI) purchasing anywhere within Greensboro city limits. Structured as a 0% deferred forgivable second.
  • 5-10 year HOME affordability period. 600 FICO minimum. 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 Program for Households is forgiven after 10 years, so a buyer who stays that long does not repay it.

  • Repayment is triggered by Deferred 0% and forgiven prorated over 5-10 year HOME 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 Program for Households is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Standard FTHB requirement; displaced homemaker / single-parent exceptions per HUD.
  • The home is occupied as a primary residence
  • On credit: 600 FICO minimum.
  • A completed homebuyer education course, through HUD-approved housing counseling agencies including Housing Consultants Group (Greensboro/Guilford) and Community Housing Solutions. 8-hour pre-purchase education plus 1-on-1 counseling required.
  • Residency: Property must be located within City of Greensboro corporate limits and serve as borrower's primary residence.
  • Citizenship or immigration status: U.S. citizen or eligible non-citizen (per HUD HOME/CDBG rules).
  • First-time homebuyer (no primary-residence ownership past 3 years). Owner-occupied primary residence within Greensboro city limits. Household income at or below 80% AMI Greensboro-High Point HMFA (1-person $46,500 to 8-person $87,650 FY2025). 600 FICO minimum. 8-hour HUD-approved homebuyer education plus 1-on-1 counseling. Minimum $1,000 buyer contribution. Property must pass HQS inspection. CDBG/HOME environmental review.

The program excludes

  • Manufactured homes
  • Households above 80% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Homebuyer Assistance Program for Households 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 Greensboro-High Point HMFA. FY2025: 1-person $46,500 to 8-person $87,650.
  • 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 Program for Households caps the purchase price as follows: Subject to HUD HOME 95% area median sales price limits for Greensboro-High Point HMFA.

  • 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 Program for Households serves buyers purchasing in Greensboro, North Carolina.

How do you apply?

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

  1. Take a homebuyer education course

    Required by the program, through HUD-approved housing counseling agencies including Housing Consultants Group (Greensboro/Guilford) and Community Housing Solutions. 8-hour pre-purchase education plus 1-on-1 counseling required..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Apply directly to City of Greensboro Neighborhood Development. Income certification, credit review, and property eligibility determination performed by City staff., and are subject to availability.

  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.

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