Homebuyer Assistance

Help with down payment, closing costs, or financing gaps

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Program Descriptions Steps for Buying Homebuyer Education

Are you in the market for an affordable home? 

Our homebuyer assistance programs offer zero-interest loans to help with down payment and closing costs or a gap in financing. The loans are deferred; no payments are due until the home is sold or the owner no longer uses the home as their primary residence. Please note that conditions may apply. 

To get started, watch the informational video, read the descriptions of our two programs, and see the steps for buying below!

Note that if you qualify for one of our programs, you will likely also qualify for other homebuyer programs such as those offered through the NC Housing Finance AgencyOur approved lenders can help you learn more about other programs you may qualify for and how to layer multiple programs to make homeownership a reality! This comparison chart of local homebuyer resources may help guide your lender in connecting you with relevant programs.

About Raleigh Homebuyer Subsidy

Program Descriptions

Both of the City’s homebuyer assistance programs are for first-time homebuyers earning no more than 80 percent of the area median income (see the current income limits in step 1 under “Steps for Buying”). Below are descriptions and guidelines for the City’s two programs: the traditional Homebuyer Assistance Program and the new Enhanced Homebuyer Assistance Program funded through the 2020 Affordable Housing Bond. 

Homebuyer Assistance Program 
  • Eligible properties: Any single-family home within Raleigh city limits 
  • Maximum assistance: $45,000 
  • Maximum home purchase price: $371,000
Enhanced Homebuyer Assistance Program 
  • Eligible properties: Any single-family home within targeted geographic areas in Raleigh 
  • Maximum assistance: $60,000 
  • Maximum home purchase price: $450,000 
  • Deed restrictions: Homes purchased through this program will subject to a 10-year deed restriction limiting the sales proceeds that go to the owner if they sell the home within the 10-year period 

Steps for Buying

  1. Determine if you qualify for Homebuyer Assistance. To qualify, your household income must fall at or below the income limits below (as defined by HUD federal guidelines).  
    Income Limit Family of 1 Family of 2 Family of 3 Family of 4 Family of 5 Family of 6 Family of 7 Family of 8
       $63,500 $72,550 $81,600 $90,650 $97,950 $105,200 $112,450 $119,700
  2. Learn about the home-buying process. The City requires that you attend a Homeownership Class where you will earn a certificate that allows you to participate in the Homebuyer Assistance Program. The City of Raleigh contracts with DHIC, Inc. to provide homeownership and credit counseling. For more information, contact DHIC at 919-832-4345.
  3. Find a lender. Our Homebuyer Assistance Program works with a network of approved lenders. Visit an approved lender to get pre-approved for a mortgage to buy a home. If you are eligible, your lender will apply to the City’s program on your behalf.
  4. Find a home. New or existing single-family homes, townhomes, or condominiums located within the city limits of Raleigh are eligible under our programs. For the traditional Homebuyer Assistance Program, the purchase price cannot exceed $371,000. For the Enhanced Homebuyer Assistance Program, homes must be located in targeted geographic areas in Raleigh and the purchase price cannot exceed $450,000. 

Homebuyer Education

A mother and son holding large key cutout in front of their east college park home

Don’t feel ready to start the home-buying process? Home-buying courses are offered by local agencies to help you prepare. Sign up for one today!