Northside Development Group Spartanburg Home Buyer Assistance

What is Northside Development Group Spartanburg Home Buyer Assistance?

Northside Development Group Spartanburg Home Buyer Assistance is a forgivable loan for homebuyers in Spartanburg, South Carolina.

• Place-based mixed-income revitalization program for the Northside neighborhood of Spartanburg. Up to $25,000 forgivable second over 10 years at 0% interest.
• The Northside Development Group (NDG) Spartanburg Home Buyer Assistance Program is a place-based mixed-income revitalization DPA program administered by Community Works in partnership with the Northside Development Group. The program supports homebuyers purchasing in the Northside neighborhood of Spartanburg, a former HUD Choice Neighborhoods initiative area. Up to $25,000 in DPA is structured as a 0%-interest forgivable second mortgage, deferred and forgiven over 10 years of continued owner-occupancy. Wide income band ($42,150-$191,400) supports both lower-income and market-rate buyers to advance the Northside mixed-income community plan.
• Funding comes from Local, Philanthropy, and CDFI.

Do you have to pay it back?

Northside Development Group Spartanburg Home Buyer Assistance is forgiven after 10 years, so a buyer who stays that long does not repay it.

• Repayment is triggered by Forgiven over 10 years of continued owner-occupancy. Unforgiven balance due on sale, refinance, transfer, or non-owner-occupancy before 10 years.
• The assistance is recorded in 2nd Lien position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Northside Development Group Spartanburg Home Buyer Assistance is open to buyers who will live in the home as their primary residence.

What are the income limits?

Northside Development Group Spartanburg Home Buyer Assistance limits household income to $191,400.

• 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.

What kind of home can it be used for?

Northside Development Group Spartanburg Home Buyer Assistance caps the purchase price as follows: No CW-specific sales price cap; conforming loan limit applies via first-mortgage product.

• Eligible property types include Single-family detached, condominium, townhouse, PUD and manufactured home on permanent foundation per servicer overlays.
• New construction is eligible.
• Manufactured homes are eligible.

Is there eligibility for specific groups?

Northside Development Group Spartanburg Home Buyer Assistance names veterans, active-duty service members, reservists and National Guard members, and surviving spouses 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.

Where does it apply?

Northside Development Group Spartanburg Home Buyer Assistance serves buyers purchasing in Spartanburg, South Carolina.

• The program targets specific areas: Northside neighborhood of Spartanburg (former HUD Choice Neighborhoods initiative area).

How do you apply?

Applications for Northside Development Group Spartanburg Home Buyer Assistance go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through Community Works HUD-approved homebuyer education and one-on-one counseling..

2. 2

   Contact the administering agency to reserve funds

   Funds are reserved through Application submitted directly to Community Works at time of pre-approval., and are subject to availability.

3. 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.