Expanded Income limits for $8,000 Down Payment Assistance for Raleigh / Wake County Home Buyers

North Carolina Housing Finance Agency Expands Down Payment Income Limits


North Carolina Housing Finance Agency (NCHFA) has just announced  expanded down payment assistance (“DAP”) to help home buyers!  NCHFA will now offer an $8,000 Down Payment Assistance Program to all eligible borrowers within their maximum FirstHome income limits.

First Time Home Buyers in Raleigh / Wake County no longer have to be under 80% of Adjusted Median Income to take advantage of this $8,000 Down Payment Assistance Program.

For example, this means a home buyer in Wake County with 3+ people in their household can have a household income up to $89,900 and still qualify for a Down Payment Assistance of $8,000!    

This allows more eligible borrowers (i.e., veterans and first-time home buyers) to take advantage of the FirstHome and $8,000 Down Payment Assistance to much higher income limits!

Call Ricardo for details (919) 559.3384 and income limits chart for other maximum income limits by North Carolina county.

Since relocating from Northern Michigan in 2007 I have lived in Garner (27529) with my wife Melanie and our four children. With personal production of 8MM in real estate sales across Southern Wake County I am considered to be a local market expert in the following communities: Garner (27529), Fuquay-Varina (27526), Holly-Springs (27540), Apex (27502), and Raleigh (27603, 27604, 27606, 27609, 27610)) which spans from downtown Raleigh to Willow Spring including Lake Wheeler. Call or email me, I’m here to help! Ricardo Cobos (919) 526-0183

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  1. There are two sides to every opinion, but I am not sure any form of DP Assistance is a great idea. No skin, no regrets, little conscience????

    Of course, that is generalizing, but when you don’t have enough money for a down payment, you have no money to fix things in your house. Every home buyer should have a slush fund for emergencies. AND a fund for unemployment. Giving the green light to purchase a home with DP Assistance seems to be giving the green light for ineffective personal money management. What is wrong with renting if you can’t save up enough yet?

    The American Dream is over as we knew it. Not every little kid should get a trophy just because they played in the game, and not every person in the US should be given the opportunity to purchase a home.