New Down Payment Assistance Programs (get up to $15,000!)

$15,000 Down Payment Help in Mecklenburg & Cabarrus Counties

If you are a first-time buyer and purchasing a home in Cabarrus, Cumberland, Guilford, Johnston or Mecklenburg counties, you may be eligible for $15,000 in down payment assistance in the form of a five-year, deferred loan at zero interest. Even better, stay in your home for five years and you won’t need to repay the down payment loan – it is forgiven at 20% per year for each full year you stay in the home.

The special $15,000 down payment assistance for first-time homebuyers is funded through the U.S. Department of the Treasury’s Hardest Hit Fund®. The five counties were chosen to encourage homeownership in areas that experienced especially high rates of foreclosure during the recent recession.

The N.C. Housing Finance Agency is offering the down payment assistance to be used in combination with the Agency’s 30-year, fixed-rate N.C. Home Advantage Mortgage™. Please note that if you qualify for this assistance, you are not eligible for the down payment assistance normally offered with the N.C. Home Advantage Mortgage™. However, you may be eligible for a Mortgage Credit Certificate to save up to $2,000 on your federal taxes annually.

Am I eligible?

To qualify for the $15,000 down payment assistance, you must:

  • Be a first-time home buyer (or not have owned a home in the past three years)
  • Purchase an existing home with a sales price at or below $245,000. (New construction is not eligible.)
  • Have a credit score of 640 or higher
  • Complete a short home buyer education course, either in person or online (contact your lender for recommendations).

You also must meet the following income limits:

Maximum Qualifying Income

County

Household Size

1-2 Persons

3+ Persons

Cabarrus

$67,000

$77,000

Cumberland

$62,000

$71,000

Guilford

$67,500

$78,000

Johnston

$76,000

$85,000

Mecklenburg

$67,000

$77,000

How do I begin?

Call or text us at 704-931-5099 and we will connect you with an approved lender. You can also email us at info@treerealtycarolina.com.