Mitchell-Yancey Habitat for Humanity Homeownership Program (SHLP)
Mitchell-Yancey Habitat for Humanity Homeownership Program (SHLP) is a first mortgage for homebuyers in Spruce Pine, North Carolina, administered by Mitchell-Yancey Habitat for Humanity.
The program asks for
- A completed homebuyer education course
- Buyer must participate in construction or rehab of their home (sweat equity). NCHFA SHLP provides shared 0% amortizing mortgage (20-30 yr, up to $50K). Must complete homebuyer education + 2 hrs one-on-one counseling. Contact: 828-766-9000, 563 Oak Ave, Spruce Pine NC 28777.
- A home in Mitchell; Yancey County
It doesn’t cover
- Households above 80% of area median income
- Homes outside Mitchell; Yancey County
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
Income limit
80% of Mitchell; Yancey County’s area median income
HUD sets the area median income each year. The limit changes with household size, so a family of five has a higher limit than a single homebuyer.
How to apply
How to applyThree steps, in this order
Take a homebuyer education course
Required by the program before funds are reserved.
Contact Mitchell-Yancey Habitat for Humanity to reserve funds
Funds are reserved with the provider and are subject to availability.
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 homebuyer can take it to a lender or housing counselor.
Questions about this program
What is Mitchell-Yancey Habitat for Humanity Homeownership Program (SHLP)?
Mitchell-Yancey Habitat for Humanity Homeownership Program (SHLP) is a first mortgage for homebuyers in Spruce Pine, North Carolina, administered by Mitchell-Yancey Habitat for Humanity. Funding comes from NCHFA Self-Help Loan Pool (SHLP).
How much assistance does it provide?
Mitchell-Yancey Habitat for Humanity Homeownership Program (SHLP) offers up to $50,000 in assistance. Amounts are the program's published maximums, not an offer — Mitchell-Yancey Habitat for Humanity determines any individual award.
Do you have to pay it back?
Mitchell-Yancey Habitat for Humanity Homeownership Program (SHLP) is a first mortgage and is repaid under the terms set by Mitchell-Yancey Habitat for Humanity. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.
Who qualifies?
Mitchell-Yancey Habitat for Humanity Homeownership Program (SHLP) sets its eligibility rules through Mitchell-Yancey Habitat for Humanity, and does not restrict applicants to first-time homebuyers. A homebuyer education course is required. Buyer must participate in construction or rehab of their home (sweat equity). NCHFA SHLP provides shared 0% amortizing mortgage (20-30 yr, up to $50K). Must complete homebuyer education + 2 hrs one-on-one counseling. Contact: 828-766-9000, 563 Oak Ave, Spruce Pine NC 28777.
What are the income limits?
Mitchell-Yancey Habitat for Humanity Homeownership Program (SHLP) limits household income to 80% of the area median income, which varies by county and household size. Household income at or below 80% of Area Median Income. 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?
Mitchell-Yancey Habitat for Humanity Homeownership Program (SHLP) can be used for single_family.
Where does it apply?
Mitchell-Yancey Habitat for Humanity Homeownership Program (SHLP) serves homebuyers purchasing in Spruce Pine, North Carolina.
How do you apply?
Applications for Mitchell-Yancey Habitat for Humanity Homeownership Program (SHLP) go through Mitchell-Yancey Habitat for Humanity, 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.
Also for Mitchell; Yancey County homebuyersOther programs open to Mitchell; Yancey County homebuyers
- NC 1st Home Advantage Down PaymentUp to $15,000
- Down Payment AssistanceUp to $2,500
- Community Partners Loan Pool (CPLP)Deferred
Whether two programs can be combined is up to each agency. Ask before you apply.
All 69 programs for Mitchell; Yancey CountyProgram terms are set by Mitchell-Yancey Habitat for Humanity and can change; confirm on the official site before you apply.