Owning a home is an important step toward financial stability and long-term security. The City of Raleigh acknowledges the challenges that first-time homebuyers face in taking this initial step.
To assist potential homeowners, Raleigh offers programs to support first-time buyers with significant upfront costs such as down payments and closing costs. Eligible applicants can receive between $45,000 and $60,000 in financial assistance.
“No payments are due until the loan matures, the home is sold, or the owner no longer uses the home as their primary residence.”
Applicants must meet specific income limits, complete a HUD-approved homebuyer education course, and ensure that homes are located within Raleigh city limits.
This initiative provides a valuable opportunity for individuals and families ready to establish roots but who require additional support to begin their journey into homeownership.
