Downpayment assistance up to $8,000 in Raleigh for buying your first home!
Home buyers who need help with the down payment and closing costs may qualify for interest-free, deferred second mortgages up to $8,000. You pay $1,000 from your own funds, and the loan pays up to $8,000 of the balance.
Payment on the principal isn’t due until 30 years from the date of the loan. Payment is due earlier if you sell, transfer, or refinance your home; if your loan goes into default; or if the home ceases to be your principal residence.
To qualify for the $8,000 downpayment assistance, your income and the home’s sales price must fall within our established limits. You must also have a minimum credit score of 650 to qualify for down payment assistance.
Homes built before January 1, 1978 and homes that are tenant-occupied, are not eligible for NCHFA down payment assistance.
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