The Family Focus Guide helps families and individuals, in and around the Fayetteville area, find resources in our community.
If you have a service-focused organization that serves families in the Fayetteville, Cumberland County area and would like to be listed, please email us at [email protected].
Down Payment Assistance
This project is sponsored and supported by the North Carolina Housing Finance Agency and provides down payment assistance of 20% up to $25,000 (whichever is less) to low and very-low income families who need extra money to obtain a home mortgage. The $25,000 is a deferred second mortgage. The minimum loan amount is $7,500. Except for the minimum loan amount requirement all loan amounts should reflect the borrower’s actual assistance needed to make the home affordable. All borrowers must invest a minimum of $750.00 of their personal funds into the transaction. In addition, borrowers should have accessible assets equal to one months’ total house payment remaining on deposit after loan closing.
The funds received from the North Carolina Housing Finance Agency (NCHFA), is a deferred 2nd mortgage. After the first mortgage is paid, then you start making payments on the 2nd mortgage. The 2nd mortgage is interest free during the payoff of the 1st mortgage.
Families must be a first time home-buyer or have not owned a home as their principal residence during the past three years.