Monroe-Union County CDC Down Payment Assistance Program

Monroe-Union County CDC Down Payment Assistance Program is a deferred second loan for homebuyers in Monroe, North Carolina, administered by Monroe-Union County Community Development Corporation (MUCCDC). Down payment assistance for income-eligible first-time homebuyers offered by the Monroe-Union County Community Development Corporation, a HUD-approved housing counseling agency. Funds may be applied to closing costs, lender-required down payment, and prepaid expenses. Families living in and purchasing in Monroe can receive up to $7,500, paired with the agency's pre-homeownership counseling. Up to $7,500 toward down payment, closing costs, and prepaid expenses. Paired with free HUD-approved housing counseling. Funding comes from Administered by MUCCDC (nonprofit CDC); agency also channels NCHFA / NC Dept. of Commerce funding for related programs.

Monroe-Union County CDC Down Payment Assistance Program offers up to $7,500 in assistance. Amounts are the program's published maximums, not an offer — Monroe-Union County Community Development Corporation (MUCCDC) determines any individual award.

Monroe-Union County CDC Down Payment Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Monroe-Union County CDC Down Payment Assistance Program is open to first-time homebuyers and homebuyers who will live in the home as their primary residence. "First-time homebuyer" usually means not having owned a home in the last three years, but the program sets its own definition. A homebuyer education course is required, through MUCCDC pre-homeownership counseling; eHome America online homebuyer class (https://www.ehomeamerica.org/muccdc). Residency requirement: $7,500 tier applies to families living in Monroe and purchasing in Monroe. DPA assistance_type (deferred vs forgivable) and interest rate not explicitly stated on the source; marked deferred_loan as best inference, verify with the agency. Income limits and credit/DTI not published. MUCCDC's Housing Rehabilitation program is NOT accepting applications, but DPA is listed as available.

Monroe-Union County CDC Down Payment Assistance Program sets its income limit as follows: Available to income-eligible first-time homebuyers (low-to-moderate income). The source page does not publish a specific by-household-size table; exact limits not confirmable. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Monroe-Union County CDC Down Payment Assistance Program can be used for Single Family. New construction is eligible.

Monroe-Union County CDC Down Payment Assistance Program serves homebuyers purchasing in Monroe, North Carolina.

Applications for Monroe-Union County CDC Down Payment Assistance Program go through Monroe-Union County Community Development Corporation (MUCCDC), 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.