Homebuyer Assistance Programs

Program Details

The City-Wide Homebuyer Assistance Program provides affordable homeownership opportunities for very low-to-moderate income buyers, providing deferred, low-interest loans to reduce out-of-pocket costs for down payment, closing costs, and prepaid expenses. The program does not include providing assistance with earnest pay/good faith deposits that may be required by a Realtor or current homeowner to hold property.


The purpose of the Homebuyer Assistance Program is to provide assistance for qualified very low-to-moderate income citizens interested in purchasing a home. This policy is also designed to protect potential homebuyers from predatory lending that may strip equity through illegal and unethical practices.

Predatory Lending Practices

Predatory lending practices may include, but are not limited to:
  • Excessively high fees and commissions
  • High interest rates
  • Misrepresentation of the mortgage terms and conditions
  • Repeated financing of loans and balloon payments

Frequently Asked Questions

More information and common questions can be found by checking our our Homebuyer Assistance Programs Frequently Asked Questions (PDF) document.


The program requires the homebuyer to:
  • Be income eligible for the program (80% or below the area income median)
  • Provide $500 of their own funds toward the purchase
  • Purchase a home within the City limits
  • Receive an approved loan from a participating lender

Restrictions & Terms

  • The program can not be used to purchase a home that exceeds 95% of the area median purchase price for a single family home.
  • City-Wide Homebuyer Assistance shall apply to all properties located outside of the Core City. This replaces all former tiered programs.
  • The amount shall not exceed a maximum level of $5,000 for a home located within the High Point city limits.
  • Terms include a 3-year deferment at 3% interest for 5 years.
  • Additional incentives may be offered in development enhancement areas.