Homebuyer Down Payment Assistance Program

Homebuyer Down Payment Assistance Program is a forgivable loan for homebuyers in Guilford County, North Carolina. The Guilford County Homebuyer Down Payment Assistance Program, administered by Housing Consultants Group, provides up to $15,000 in forgivable second-lien financing for first-time homebuyers in Guilford County (excluding Greensboro and High Point). HUD HOME-funded. Up to $15,000 0% interest forgivable second-lien loan for down payment and closing costs. Forgiven over 5 years (1/60th per month). Administered by Housing Consultants Group on behalf of Guilford County. Funding comes from HUD HOME Investment Partnerships; Guilford County.

Homebuyer Down Payment Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, transfer, or non-owner-occupancy within 5-year affordability period triggers repayment of unforgiven balance. 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 Down Payment Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time" has exceptions here: First-time homebuyer required; HUD definition exemptions apply. On credit, the program states: Minimum middle FICO 600. A homebuyer education course is required, through HUD-approved counseling agency; 8-hour homebuyer education required. Residency requirement: Property in Guilford County, NC, excluding cities of Greensboro and High Point. Citizenship or immigration status: U.S. citizen or qualified alien required. Property must be in Guilford County, NC, excluding the cities of Greensboro and High Point (which run their own programs). First-time homebuyer required. Minimum 600 FICO. Buyer must contribute at least $500. Maximum debt-to-income 45%.

Homebuyer Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% HUD AMI for Greensboro-High Point MSA (FY2025): 1p $43,300; 2p $49,500; 3p $55,700; 4p $61,850; 5p $66,800; 6p $71,750; 7p $76,700; 8p $81,650. 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.

Homebuyer Down Payment Assistance Program caps the purchase price as follows: Sales price capped at HUD HOME Homeownership Value Limits for Guilford County. Eligible property types include Single-family detached, townhouse, condominium. New construction is eligible. Manufactured homes are not eligible.

Homebuyer Down Payment Assistance Program names veterans, active-duty service members, reservists and National Guard members, surviving spouses, American Indian and Alaska Native homebuyers, educators, law enforcement officers, firefighters, healthcare workers, and homebuyers 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.

Homebuyer Down Payment Assistance Program serves homebuyers purchasing in Guilford County, North Carolina.

Applications for Homebuyer Down Payment Assistance Program go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through First-come, first-served via Housing Consultants Group. 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.