The Guilford County Planning and Development Department is partnering with the US Department of Housing and Urban Development (HUD), the City of Greensboro Neighborhood Development Department, Housing Consultants Group and local lenders to offer the Homebuyer Down Payment Assistance program – an initiative that’s meant to increase home ownership in Guilford County.
The program was established to help “low-to-moderate-income persons and families” handle the down payment and closing costs of a new home. To do so, it provides a loan to applicants who meet the income eligibility requirements and qualify of up to $10,000 at the low, low interest rate of zero percent (roughly the same rate bank savings accounts are paying these days).
The program forgives the loan to the owners after five years of residing in the home.
People who haven’t owned a home within the last three years and meet the income eligibility requirements are qualified to apply for the attractive forgivable loans.
The purchased home must be in Guilford County and outside the city limits of Greensboro and High Point.
The stated objective of the program is to help more families become homeowners by doing the following:
- Providing a solid knowledge of homeownership through education and counseling,
- Ensuring that the applicants are ready to buy a house and are capable of making regular payments,
- Assisting with funding deficiencies by assisting with the down payment and closing costs.
Funds for the program originate from HUD. Those funds are awarded to the Greensboro HOME Consortia through the HOME Investment Partnership Program. The grant period runs from July 1 to June 30 each year. The funds are processed and distributed on a first-come, first-served basis to eligible home buyers until the money is all gone.
To learn more about the program, those interested can check out https://www.guilfordcountync.gov/our-county/planning-development/housing- programs or call the Housing Consultants Group at 336-850-4040.
So let me get this straight, you are offering a home to low income residents while increasing property tax and water and sewed rates to current homeowners. What is wrong with you people , how about thinking of the owners that are already overtaxed!
You got that right…
Patricia you may as well be spitting in the wind with the council it’s past time for Republicans and White people to stand up and vote the fools out of office before they cause a lot more damage and I won’t be a pompous ass and tell anyone to call me Dr.
Taxation. Taxation. Just keep the money funneling through. Our city government does not know the meaning of fiscal responsibility.
ALL of Greensboro City Council members are minorities on brain power and are ONLY for their own kind. Those of us good quality citizens are at their disposal and we will suffer until WE get RID of ALL of them.
I saved for the downpayment on my first house. If I can do it, so can you.
I paid for my education, so can you.
I managed to be successful, so can you.
I have bought three houses in Guilford County in the last 45 years. Where’s my $30,000? The only thing the government has given me is a hard time!
Won’t you just croak already? It seems your buddy Alan did.
As has been pointed out several times, your home and education was easier to pay for because you are older and have been able to benefit from that generational advantage into the future. Your circumstances are not everyone’s circumstances. Good for you. Everyone else is different from you.
I served in the Air Force which allowed me to bypass a down payment on my first home. In addition, my 4 yrs service allowed me to get a college degree without costing me anything, other than my 4 years service. Apparently, serving in the military is not in vogue with the current “give me” mentality.