Homebuyer Assistance

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, 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 Agency. Our 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.

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: $384,750

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
	$68,500	$78,250	$88,050	$97,800	$105,650	$113,450	$121,300	$129,100

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.