Unifour Consortium Down-Payment Assistance Program

Unifour Consortium Down-Payment Assistance Program is a forgivable loan for homebuyers in Catawba; Burke; Caldwell; Alexander County, North Carolina, administered by Western Piedmont Council of Governments (WPCOG) - Unifour Consortium HOME Program. HUD HOME-funded first-time homebuyer down payment/closing-cost assistance offered by the Unifour Consortium (Alexander, Burke, Caldwell, Catawba counties) and administered by WPCOG. Provides a zero-interest, no-monthly-payment second loan equal to 15% of the purchase price, capped at $20,000, with 50% forgiven at the 10-year anniversary. 15% of purchase price (max $20,000). 0% interest, $0 monthly payment. 50% forgiven at 10-year anniversary. Subordination available for refinancing. Funding comes from HUD HOME Investment Partnerships Program (Unifour Consortium / City of Lenoir lead entity).

Unifour Consortium Down-Payment Assistance Program offers up to $20,000 in assistance. Amounts are the program's published maximums, not an offer — Western Piedmont Council of Governments (WPCOG) - Unifour Consortium HOME Program determines any individual award.

Unifour Consortium Down-Payment Assistance Program is forgiven after 10 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Sale, refinance, or transfer; 50% forgiven at the 10-year anniversary, remaining balance repaid upon sale/refinance/transfer. The assistance is recorded in Second position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Unifour Consortium 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: Applicant cannot have owned a home in the last 3 years. On credit, the program states: Minimum credit score of 620 required. Residency requirement: Home purchased in Alexander, Burke, Caldwell, or Catawba County. Current WPCOG guidelines (15%/$20,000) supersede older 20%/$30,000 figures on the Morganton city page. Income-limit dollar table is an embedded image; not transcribed. Homebuyer-education requirement not stated on source.

Unifour Consortium Down-Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size. Based on total gross household income (current income projected forward 12 months); within HUD HOME income guidelines (~80% AMI). Specific by-household-size dollar limits are published as an embedded image on the WPCOG page (not machine-readable) and were not transcribed. The limit applies to total household income, not only the borrower’s. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Unifour Consortium Down-Payment Assistance Program caps the purchase price at $243,000. Eligible property types include Single Family and New Construction. New construction is eligible. Manufactured homes are not eligible.

Unifour Consortium Down-Payment Assistance Program serves homebuyers purchasing in Catawba; Burke; Caldwell; Alexander County, North Carolina.

Applications for Unifour Consortium Down-Payment Assistance Program go through Western Piedmont Council of Governments (WPCOG) - Unifour Consortium HOME Program, 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.