Homeownership Assistance Program
Improving Homeownership Opportunities
through down payment and closing costs assistance to first-time and first-generation homebuyers in storm-impacted communities.
The Homeownership Assistance Program will pause acceptance of new applications on Monday, April 17 at 5 p.m.
Interested homebuyers should apply and provide the required documentation as soon as possible. Funding is limited. The program may reopen at a later date if more funds become available.
The Homeownership Assistance Program (HAP) provides down payment and closing costs assistance to first-time and first-generation homebuyers for the purchase of a home within counties impacted by Hurricanes Matthew and Florence. The program strives to:
- Increase homeownership to support long-term resilience and the economic viability of communities impacted by recent hurricanes;
- Incentivize home-ready renters to become first-time homebuyers and reside in storm-impacted communities to reduce negative economic consequences to those communities; and
- Improve homeownership opportunities for Low- and Moderate-Income (LMI) households.
Made possible through federal long-term disaster recovery funding provided through NCORR's Community Development Office, the program will serve LMI households in the 16 North Carolina counties federally designated as "most impacted and distressed" due to damage from Hurricanes Matthew and/or Florence. Eligible applicants will receive up to $30,000 of the sales price in down payment assistance in addition to receiving closing costs assistance up to 5% of the sales price. The program will also offer homebuyer education and counseling.
NCORR will work through the NC Housing Coalition (NCHC) and its network of HUD-Certified Housing Counseling Agencies to deliver HAP assistance to eligible applicants. NCHC will process HAP applications, provide homebuyer education services and deliver funds and documents to the home purchase transaction closing.
More information and an interest form for potential applicants is available on the N.C. Housing Coalition website.