Homeownership Assistance Program

To apply to the Homeownership Assistance Program, homebuyers must:

• Be a first-time homebuyer or first-generation homebuyer
  • A first-time homebuyer is defined as someone who has not owned a home as a primary residence in the past three years. (Code of Federal Regulations 24 CFR 572.5)
  • A first-generation homebuyer is defined as a first-time homebuyer whose parent(s) or guardian(s) never owned a home during the homebuyer’s lifetime or lost the home to a foreclosure or short sale and do not currently own a home.
• Have obtained a recent pre-approval from a mortgage lender to begin the buying process and further be able to deliver the pre-approval to the program at the time of application submission
• Have a total household income that does not exceed 120% of the area median income (AMI) for the County of Purchase as published annually by HUD for the HOME program (Current AMI limits can be found here.)
• Provide sufficient documentation to verify income for any adult members of household
• Ensure all purchases are an Arm’s Length Transaction defined as “a transaction between unrelated parties who are each acting in their own best interest”
• Purchase a home in an eligible county defined by HUD as Most Impacted and Distressed by Hurricanes Florence and Matthew (See the table below for eligible counties.)
• Complete free Pre-purchase Homebuyer Education content provided by the program and meet with a HUD-certified housing counselor (A Homebuyer Education certificate will be provided upon completion.)
• Have at least one member of the household who is lawfully present in the United States to act as the applicant or co-applicant
• Be able to contribute at least $500 of their own funds to the transaction
• Have at least one member of the household who is a United States citizen
• Not have liquid assets above $30,000 (Proof of loans for cash on hand can be considered for verification.)
• Have a fixed rate mortgage (Adjustable-rate mortgages are not allowed. No owner financing will be allowed.)
• Remain in the property for three years (If applicants leave the property within three years, they will be required to pay back all assistance funds.)
• Submit all initial required homebuyer documentation:
  • First-time or first-generation homebuyer self-certification
  • Most recent 1040 tax returns, all pages
  • Mortgage lender pre-approval letter
  • Birth certificate or passport for at least one household member confirming US citizenship
  • Identification for all household members over the age of 18
  • Homebuyer education certification from an approved housing counseling agency
  • Proof of buyer's $500 contribution (example: recent bank statements)
  • Fully executed purchase agreement for a home located in Haywood County

For a property to qualify for HAP, the property purchased must:

• Be located in one of the 16 storm-impacted counties listed in the table above
• Be located outside of the 100-year floodplain
• Not be located within 5 miles of a site identified in the EPA Superfund National Priorities or CERCLA List or other hazardous conditions [24 CFR 58.5(i)(2)]
• Undergo a pre-purchase home inspection, including a lead inspection for properties constructed before 1978 
• Meet the definition of an Arm’s Length Transaction as contained in the glossary of the Federal Housing Administration's Single-Family Housing Policy Handbook 4000.1 (revised Oct. 26, 2021). 
• Be used as the primary residence by the purchaser for a minimum of 36 months to avoid repayment
• Must meet other property eligibility as listed in the Program Manual

The Homeownership Assistance Program has paused acceptance of interest forms and applications from eligible homebuyers, effective Sept. 26, 2024.

Proof of mortgage loan pre-approval from a lender and a completed online interest form are required of all applicants. Please remember that NCORR will only process your application once you have submitted all the initial required homebuyer documentation. No exceptions.

Assistance will be awarded on a first-ready, first-served basis until program funding is depleted.  Limited funding is available, so some applicants may not receive assistance. Award amounts are determined based on the application type as shown in the table directly below.

If you have questions, please email HAP.support@ncdps.gov for assistance.

Please send all program and application questions to HAP.support@ncdps.gov.