Buying an Affordable Home in Raleigh
Community Development Homebuyer Programs
Are you thinking about buying a home?
Purchasing a home is probably the biggest investment you will make. Before you buy a home, there are several things you will need to learn. The first step in making a sound investment is to learn about the home buying process. The City requires a Homeownership Class Certificate to participate in its homebuyer assistance programs. In addition to a class, you can educate yourself by accessing the free information at the Department of Housing and Urban Development and Fannie Mae. The City has a Homebuyer Program which is detailed below.
The Homebuyer Program is for first-time homebuyers (HUD defines this as someone who hasn't owned a home in the last three years) who meet income qualifications and want to buy a home in Raleigh's city limits. This second mortgage program offers up to $20,000 as a low-interest loan and helps with down payment and/or closing costs or a gap in financing. The homebuyer must qualify with a first mortgage from a participating lender. Ask our staff about our lending partners.Homebuyer Purchase Program Details
Video: Subsidy Layering
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If your organization is interested in producing and maintaining quality affordable rental housing for low-income households, the City may be a partner to consider.
Please email Aimee Holtsclaw or call 919-996-4330 to be added to the RFP mailing list or for more information about these programs.