Durham Offers Up to $80,000 in Down Payment Help, With $3.2 Million Available Now

Durham has $3.2 million available for down payment assistance, distributed on a first-come, first-served basis until funds run out. The Down Payment Assistance Program provides up to $80,000 per buyer for people who have not owned a home in the past three years and plan to live in Durham city limits as their primary residence. Income limits are based on 80% of area median income or below, with examples including $71,200 for a single person, $101,700 for a family of four, and $118,000 for a family of six. Applicants must work with one of more than 20 approved participating lenders whose loan officers completed compliance training. Homes must be located within Durham city limits. Interested buyers can contact the program by email or phone, and can access lender lists, income tables, and guidelines online.

"Durham has $3.2 million in down payment assistance available right now, and loans are first-come, first-served until the funding runs out. The city's Community Development Department is offering up to $80,000 per buyer through the Down Payment Assistance Program, aimed at buyers who haven't owned a home in the past three years and plan to live within Durham city limits as their primary residence."

"The income limits are broader than many buyers assume. A single person can earn up to $71,200 and still qualify. A family of four tops out at $101,700. A family of six can earn up to $118,000. Eligibility is set at 80% of area median income or below."

"The catch: you can't walk into any bank and apply. Durham requires buyers to go through one of more than 20 approved participating lenders-institutions whose loan officers have completed compliance training with the city's Housing & Neighborhood Services team. Note that the home must be within Durham city limits-buyers eyeing properties in unincorporated Durham County wouldn't qualify."

"Buyers interested in applying can email the DPA Program at [email protected] or call 919-560-4570. The full lender list, income tables, and program guidelines are available on the city's website."

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